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Centre may not help DPC find a buyer

The Centre may not help US energy major Enron's troubled Dabhol Power Company to find a buyer for its $3 billion power project in India, but will continue to act as a facilitator for an early solution of the dispute between DPC and Maharashtra State Electricity Board.

"There is no point talking about it now. Was it a part of the power purchase agreement, that the Union government should help DPC find a buyer?" Union Power Minister, Suresh Prabhu, asked while talking to reporters in Bombay.

However, he said the Centre would continue to act as a facilitator for an early solution of the imbroglio.

"We are not washing our hands off the project and it is the Centre, which has taken maximum efforts and done sacrifices for finding an early solution," the minister said.

Prabhu said it was the government of India, which ensured that a number of other states would express willingness to buy DPC's power at reduced tariff.

"After all these efforts, now is the time to wait and see how things come up," he added.

Enron, on Tuesday, has submitted a proposal to power and finance ministry offering to sell its stake at cost of $1 billion to the Centre as a possible way out from project.

Enron India managing director K Wide Cline had said, "we have given a variety of options to the government. These include termination of the project and selling foreign investment at cost over the last nine years."

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