Coal news and updates

Jayprakash terminates talks with RPower on hydro assets sale

September 25: Jaiprakash Power Ventures Ltd‘s draft scheme of arrangement for hiving off the 1,700-MW Baspa-stage II (300 MW), Karcham Wangtoo (1,000 MW) and Vushnu Prayag (400 MW) hydroelectric projects to Reliance Power has been terminated, the company said in a filing to the BSE on September 25.

A media statement from Jaiprakash Power Ventures Ltd said the reasons for termination are not due to any regulatory uncertainties but difference in commercial aspects.

In another media statement, however, Reliance Power said: “Due to prevailing regulatory uncertainties and tariff issues which impact valuation, Reliance Power and Jaiprakash Power Ventures have terminated discussions.”