Lanco asks UP discoms to buy out its Anpara C plant
Holding the enactment of new directives and policies by the government, especially the National Coal Distribution Policy (NCDP), responsible for its present condition, the company has stated that this “resulted in changes in the terms and conditions governing coal allocation to Anpara C project, as a result of which there has been significant alteration in the available quantity of coal”, adding that “on account of the above, the coal receiving and handling logistics for the project, which were designed as per the project documents, cannot be utilised completely and coal from non-link sources is loaded manually”.
“The project has become commercially unviable with the average plant availability factor of around 40% over past more than 270 consecutive days….” the termination notice states, adding that “on account of the complete inaction on part of the buyers (discoms) and UPPCL in remedying the alterations highlighted by it, Lanco exercises its right under Clause 13.6 of the PPA and terminates the PPA. The buyers are requested to enter into discussions to commence the process of buyout of the Anpara C plant in accordance to the terms laid out in Schedule 10 of the PPA.”
The petition to UPERC
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