RattanIndia Power has decided to participate in the bidding of coal blocks so as to revive its nearly 2,700 MW worth of projects, which it had earlier shelved for want of fuel.
RattanIndia Power, erstwhile Indiabulls Power, is presently developing a total of 5,400 MW capacity with 2,700 MW each, in Amravati and Nashik, in two phases and has signed fuel supply agreement with Coal India.
It had put on hold the second phase of these projects, since 2011 for want of coal and power purchase agreements (PPA) with distribution companies.
The Supreme Court had, on 25 September, cancelled as many as 214 coal blocks - 46 of them fully operational and six about to be commissioned - that were auctioned between 1993 and 2011. The Union Government has decided to put 74 coal blocks on e-auction soon.