Performance audit of Ultra Mega Power Projects under special purpose vehicles

Performance audit of Ultra Mega Power Projects under special purpose vehicles

This CAG report tabled in the Parliament today contains results of the performance audit of 'Ultra Mega Power Projects under Special Purpose Vehicles' with focus on the effectiveness and transparency in award of Ultra Mega Power Projects to the developers.

The report contains the results of the Performance Audit of ‘Ultra Mega Power Projects under Special Purpose Vehicles’ with focus on the effectiveness and transparency in award of Ultra Mega Power Projects (UMPPs) to the Developers. Ministry of Power (MOP) prescribed the Special Purpose Vehicle route and designated Power Finance Corporation Limited (PFC), a financial institution under the administrative control of MOP, as the Nodal Agency to carry out preliminary activities and undertake the bidding process for identifying the Project Developer.

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