Karnataka told to revise Cogentrix's PPA
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13/01/2000
In a fresh twist to the Cogentrix drama, the Union government has asked Karnataka to revise the power purchase agreement (PPA) before it can issue a counter-guarantee to the Mangalore power project. It has also "advised" the state (but not made it incumbent) to review the capital costs of the 1,000 MW project prior to its financial closure. Sources suggest that the state government is likely to accept this advise.