Reeling under financial losses on account of expensive imported coal, Tata Power and Adani Power Limited (APL) have offered to sell 51% stake in their respective power projects at Mundra to their power procurers for a nominal value of Re 1 each. Senior Gujarat government officials confirmed that both the companies have written to the Gujarat Urja Vikas Nigam Limited (GUVNL), the apex power utility in the state, proposing to sell 51% stakes in their power projects for Re 1 each.

Reeling under financial losses on account of expensive imported coal, Tata Power and Adani Power Limited (APL) have offered to sell 51% stake in their respective power projects at Mundra to their power procurers for a nominal value of Re 1 each. Senior Gujarat government officials confirmed that both the companies have written to the Gujarat Urja Vikas Nigam Limited (GUVNL), the apex power utility in the state, proposing to sell 51% stakes in their power projects for Re 1 each.