The financing of the Rs 4,400 core, 1000-mw Mangalore power project of Cogentrix and CLP Power International, will suffer a serious setback and its power purchase agreement (PPA) may now have to be reopened for the fourth time. This follows the recent decision of the finance and power ministries to withdraw the counter guarantee cover for monthly payments by the state electricity boards (SEBs) along with new norms like income tax on bonus generation and tariff heat rate, under the revised counter guarantee terms for fast track power projects.