The Tamil Nadu Electricity Regulatory Commission (TNERC) has asked the Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO) to state its exact position on the 1320 MW power project by Cuddalore Powergen (the utility has a power purchase agreement with company).
In an earlier order, the TNERC had refused to extend time for the financial closure of the project, after TANGEDCO said it was power-surplus and was no longer interested in the project.
Sought extension
Cuddalore Powergen had sought the extension of the deadline for financial closure for the fifth time. Cuddalore Powergen is a project promoted by BGR Energy with a proposed investment of Rs. 6,200 crore. The company entered into an agreement with TANGEDCO in 2008 with a schedule to achieve financial closure in 12 months.
