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

Bechtel Westinghouse Electric Co. US nuclear power plant decommissioning decontamination services

Bechtel, Westinghouse team on U.S. nuclear decommissioning services

Bechtel and Westinghouse Electric Co. are partnering to provide decontamination and decommissioning services for U.S. nuclear power plants.

Siemens, Bechtel lands contract for Stonewall Energy Project in Virginia

Siemens (NYSE: SI) and Bechtel have landed a turnkey supply contract for Panda Power Funds’ 778-MW Stonewall Energy Project in Leesburg, Virginia.

Follow Power Engineering on Twitter
Latest News

MHPS to supply M501J gas, steam turbines to new combined-cycle power plant in Korea

Mitsubishi Hitachi Power Systems (MHPS), jointly with Marubeni Corp., has received an order f...

Business leaders throw support behind coal plant proposal

Business leaders on Thursday outlined the economic devastation they say could come if New Mex...

TVA seeks public comment for future coal ash storage at Bull Run

The Tennessee Valley Authority (TVA) is asking for public input on plans to expand dry onsite...

California Public Utilities Commission Approves NRG Energy’s Carlsbad Energy Center

California Public Utilities Commission (CPUC) has approved the SDG&E Power Purchase and T...

Vermont joins international effort to fight climate change

Gov. Peter Shumlin says Vermont has signed on to what he called a first-of-its-kind agreement...

Products May 2015

Callaway Energy Center's Replacement Reactor Vessel Closure Head Project

Replacing heavy equipment is one way utilities can extend the life and increase the reliabili...

Managing CCRs and Process Water: Why Handling Bottom Ash Wet May Remain The Best Option

The U.S. coal-fired electric generation industry once again finds itself in the crosshairs of...

Power Engineering Current Issue

12/01/2014
Volume 118, Issue 12
1412pe-cover1
Products Showcase
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

Buyers Guide Company Listings

Power Industry Wire News

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free NDT Job Training to Vets, Disadvantaged Young Adults

MIC President Marybeth Miceli Named to AATA Board of Directors; AATA to Provide Free ND...

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Alexium Anticipates Potential Addressable Revenue of More Than US$10M for 2015

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tech Talent

Upcoming Greenhouse Webinar Teaches Companies How to Engage Engineers in Hiring Top Tec...

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Perma-Fix Environmental Services to Present at the Marcum MicroCap Conference

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possible Delisting

Blue Earth Receives Notice From NASDAQ That the Company Is No Longer Subject to a Possi...

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 >>