September 25, 2022

Adani Energy Rajasthan has filed a contempt petition within the Supreme Court docket towards the facility buying and selling corporations owned by the Rajasthan Authorities for non-payment of ₹6,738 crore.

In September 2020, the apex courtroom had ordered three Rajasthan energy distribution corporations to pay a compensatory tariff to Adani Energy Rajasthan since 2013 to get well the upper value of imported coal.

The SC judgment was consistent with an order handed by the Appellate Tribunal of Electrical energy (APTEL) granting compensatory tariff to Adani Energy Rajasthan for its 1,200-MW Kawai thermal energy plant.

Adani mentioned it’s going through extreme monetary hardship and grave prejudice as a result of steady default by the facility buying and selling corporations in clearing the authentic change in legislation dues pertaining to the final eight years.

“Attributable to such enormous excellent quantity for a very long time (since 2013), contempt petitioner (Adani Energy Rajasthan) is unable to satisfy day-to-day operational bills, debt service obligations and advance funds to coal suppliers,” Adani Energy Rajasthan mentioned.

State govt, Adani pact

In 2008, the Rajasthan authorities and Adani Group signed a pact to arrange 1,200 MW coal-based energy undertaking in Kawai at an expense of ₹5,000 crore. Beneath this deal, the State authorities assured 100 per cent home coal linkage to the corporate. However the energy unit was overlooked of the Centre’s listing for provide of coal in 2013. The corporate then made a declare earlier than the state electrical energy regulatory fee for a compensatory tariff, because it needed to rely upon coal imported from Indonesia.

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