Nagpur: Mihan has finally begun getting electricity from the Abhijeet Group-promoted captive power plant. The cheap power assured through this unit could not reach the special economic zone (SEZ) so far. The plant was supposed to supply power exclusively to Mihan-SEZ at Rs 2.97 a unit-- much lower than the market rates. However, uncertainty remains whether the contracted rate of Rs 2.97 a unit would continue for long.
Abhijeet Group has partnered with Maharashtra Airport Development Company (MADC)- Mihan's developer- in this venture. The former had insisted on arriving at a new tariff regime to which MADC was not agreeable. For MADC, cheap power was a major sop to attract investors. With the partners finally agreeing, Abhijeet Group has begun supplying power to the units in Mihan since March and a fresh tariff petition has been filed with Maharashtra Electricity Regulatory Commission (MERC) simultaneously. "Nothing is clear about the rate so far. We have filed a petition to determine the tariff with the MERC," said a source in Abhijeet Group.
25/03/13 Shishir Arya/Times of India
