The power project of Adani Power Limited (APL) in Madhya Pradesh seems to have run into trouble with the Environment Ministry giving enough indications that it would not approve the proposal of the company to draw water from Pench Tiger reserve for its project in Chhindawara district.
However, the company’s director, Ameet Desai said they haven’t received any official communiqué on the subject from the Ministry. “We do not foresee any problems in Chhindawara project,” he said in an exclusive interview with CNBC-TV18.
This is not the first time that an Adani project has hit a roadblock over environment approvals.
A few months ago, the Environment Ministry had said no to the company's coal mining proposal in Tadoba region in Maharashtra citing threat to tigers in the adjacent Tadoba Andheri tiger reserve.
On a positive note for the company, recently the Reserve Bank had classified infra projects as non-performing loans (NPL) wherein commercial production is behind schedule by four years from the earlier two years.
Desai said the change in guidelines is a welcome step as infra projects do get delayed due to some legal issue or the other.
Commenting on the current average realisation, Desai said, merchant power tariffs have started to firm up in the last few days. “We think this trend will continue to remain till the monsoon period sets in.”
On the capacity front, he said, “In the latter part of last quarter, we have commissioned out the 330 MW unit at Mundra and now we have effective capacity of 660 MW up and running.”
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