BP and Tata Power offer to buy Dabhol stake

5 June 2003 - The Indian Financial Express newspaper reports that an offer of $150m has been jointly made by international energy firm BP and India's Tata Power for the 85 per cent foreign stake in the stalled Dabhol power project in the western Indian state of Maharashtra.

The offer is said to fall well short of the $370m asked by the foreign equity owners although the two sides have held a series of meetings to try and work out the details of any sale.

The Dabhol Power Company is 65 per cent owned by the bankrupt Enron Corporation with General Electric and Bechtel each owning ten per cent. The remaining 15 per cent interest is held by the Maharashtra State Electricity Board.

It was a dispute with the Maharashtra State Electricity Board over power sales that led to the cessation of power production at the 2184 MW power plant in June 2001, prior to the collapse of Enron.

Attempts to restart power production over recent months have failed with domestic and foreign lenders unable to agree on the future of the project.

Sponsored by FLSmidth
Related Articles
Panda Sherman natural gas-fired plant to expand generating capacity

Natural gas-fired project to expand generating capacity

Panda Power Funds plans to expand the generating capacity of a natural gas-fired combined-cycle power plant in Texas by more than 50 percent.

Panda Power Funds breaks ground on 778-MW natural gas plant in Virginia

Panda Power Funds today breaks ground on its 778-megawatt (MW) “Stonewall” generating station in Loudoun County, Va. The combined-cycle power plant will be one of the cleanest and most efficient natural gas-fueled power facilities in the United States, and is expected to enter into commercial service on June 1, 2017. The power plant will supply the power needs of approximately 778,000 homes in the Northern Virginia/District of Columbia metropolitan area.

Follow Power Engineering on Twitter
Latest News
Largest solar co-op installation in Texas begins final testing

Largest Solar Co-Op Installation in Texas Begins Final Testing

CoServ Solar Station, the largest co-op solar installation in Texas, has begun final testing ...
Hinkley Point C nuclear plant start delayed

EDF: Hinkley Point C Nuclear Plant Start Date Delayed

France-owned EDF Energy says that the Hinkley Point C nuclear power project will not begin in...
SMEPA Will Buy Power From Second Lamar County Solar Site

SMEPA Will Buy Power from Second Lamar County Solar Site

Origis Energy will build an additional 52 megawatts of solar energy capacity in Sumrall, sell...
Most U.S. nuclear power plants operating at highest level, NRC says

Most US Nuclear Power Plants Operating at Highest Level, NRC Says

A majority of U.S. nuclear power plants are operating at the highest performance levels in th...
09/02 Henry Hub Average Natural Gas Spot Prices

09/02 Henry Hub Average Natural Gas Spot Prices

The Henry Hub is the pricing point for natural gas futures contracts traded on the New York M...
Federal regulators back keeping Colorado Coal mine open

Federal Regulators Back Keeping Colorado Coal Mine Open

The Office of Surface Mining Reclamation Enforcement issued its decision Tuesday, five days b...
Manitoba Hydro names Darren Rainkie interim president and CEO

Manitoba Hydro Names Interim President and CEO

While it continues to search for a new permanent president and CEO, the Manitoba Hydro-Electr...
Silver Spring Networks, Inc., a developer of software and networking platforms for major utilities, yesterday announced that Michael Bell has been appointed president and CEO of the organization.

Silver Spring Networks Names President and CEO

Silver Spring Networks, Inc., a developer of software and networking platforms for major util...
Power Engineering Current Issue
06/01/2015
Volume 119, Issue 6
file
Products Showcase
Areva delivers reactor vessel head to Belgium nuclear power plant

Areva delivers reactor vessel head to Belgium nuclear power plant

Areva delivered a nuclear reactor vessel head to Electrabel for Unit 4 at the Doel nuclear power plant in Belgium.

GE announces launch of latest aeroderivative gas turbine, LM6000-PF+

GE announces launch of latest aeroderivative gas turbine, LM6000-PF+

GE is launching its latest aeroderivative gas turbine, the LM6000-PF+, which employs technologies from four GE businesses, bringing power online faster and more efficiently than ever before.

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Buyers Guide Company Listings

Power Industry Wire News

Yuma Energy, Inc. Declares Monthly Dividend on Its Series A Cumulative Redeemable Preferred Stock

Yuma Energy, Inc. Declares Monthly Dividend on Its Series A Cumulative Redeemable Prefe...

Magnum Hunter Resources Announces Commencement of Employment of New Executive Vice President and Chief Operating Officer

Magnum Hunter Resources Announces Commencement of Employment of New Executive Vice Pres...

Magnum Hunter Resources Receives Continued Listing Standard Notification From NYSE Regarding Common Stock

Magnum Hunter Resources Receives Continued Listing Standard Notification From NYSE Rega...

Perma-Fix Environmental Services to Present at the Rodman & Renshaw 17th Annual Global Investment Conference in New York City

Perma-Fix Environmental Services to Present at the Rodman & Renshaw 17th Annual Global ...

Despite Downturn, Some Suppliers to Oil & Gas Industry Are Growing, an Industrial Info News Alert

Despite Downturn, Some Suppliers to Oil & Gas Industry Are Growing, an Industrial Info ...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>