BoA approves power specific SEZ for Adani Power

The Board of Approval for SEZ has approved a proposal for setting up power specific special economic zones of Adani Power at Motia, Mali, Gaighat and adjoining villages in the Godda district in Jharkhand, said board sources. Formal approval for 222.68 hectares of land and in-principle approval for another 202.32 hectares has been granted. Prior to this, BoA had approved the Commerce ministry’s proposal to allow standalone power plants dedicated to exports to qualify as SEZ, in line with the new guidelines issued by the ministry of power. Further, there will be no option of selling excess power in the Domestic Tariff Area (DTA) as the entire power has to be exported or consumed within the SEZ, the ministry had stated in its earlier submission. The new guidelines come as a bonanza for the Adani Group, which reportedly had signed a long-term power purchase agreement with Bangladesh for supplying power from its plant in Jharkhand.