GUVNL case: Adani Power drops Rs 10,000-crore compensation demand

Drawing the curtains on the dispute between Adani Power (Mundra) and Gujarat Urja Vikas Nigam (GUVNL), the Supreme Court on Tuesday noted that the relationship between the two will be governed by their settlement deed where the former has agreed to continue supply of 2,000-MW power to the state discom and has withdrawn its demand for over Rs 10,000-crore compensatory tariff, as sought before the Central Electricity Regulatory Commission (CERC).

As per the settlement deed of January 3, Adani has agreed to relinquish compensation worth Rs 10,000 crore for electricity supplied to the state-owned discom, which in turn has undertaken not to terminate the PPA of February 2, 2007, which was upheld by the SC in 2019.