With lenders planning to take a haircut, Coastal Gujarat Power, a Tata Power-owned electricity generation company, is expected to revive after making continuous losses since its commissioning.
The project, one of the first ultra mega power projects, is increasing its production after two state governments – Gujarat and Maharashtra decided to buy additional power from the project in Mundra, Gujarat.
“The 4,000 mw power plant is already operating four units and is supplying Gujarat with 1,805 megawatt and 760 mw to Maharashtra,” Tata Power’s CEO Praveer Sinha said after the annual results.
Coastal Gujarat Power, which is now merged with Tata Power, reported debt of Rs 7,936 crore as on September last year.
