PSPCL moves to ‘scrap’ PPAs with Goindwal Sahib, Purulia power plants
The Punjab State Power Corporation Limited (PSPCL) has set in motion the process to ‘cancel’ power purchase agreements (PPAs) with GVK Group’s private thermal plant at Goindwal Sahib in the state and the one run by Damodar Valley Corporation at Purulia district in West Bengal by serving them with “repudiation notices”.
The corporation will also issue notices to other Punjab-based private power plants, but not for scrapping the PPAs, it is learnt.
The government has decided to “repudiate” the PPA with the Goindwal Sahib thermal plant as its per unit rate is as high as ₹10 even as power is available at ₹3 to ₹3.5 per unit from the national grid.
