23 Apr 07 Tata Power acquires Coastal Gujarat Power Limited, an SPV for 4000 MW Mundra-Ultra Mega Power Project
Tata Power limited, a TATA group company, acquired Coastal Gujarat Power Limited which is a Special Purpose Vehicle formed for Mundra Ultra Mega Power Project from the Power Finance Corporation. The signing of the Share Purchase agreement now allows Tata Power to go ahead with the various project development activities. Coastal Gujarat Power Limited has also signed Power Purchase Agreement with seven procurers for the sale of contracted capacity and supply of 4000 MW electricity to these licensees but it delineates responsibility of procurers and Company for the next important milestone. Tata Power also nominated the Gujarat Distribution Company as the lead procurer on behalf of all procurers
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