'No formal decision on UMPPs capping: Jairam Ramesh

New Delhi, Apr 24 (UNI) The government today said it has not decided to put a cap on the number of ultra mega power projects (UMPP) a company can operate.

''We are thinking to put a cap on the number of UMPPs a single operator can operate, but no formal decision has yet been taken,'' Minister of State for Power Jairam Ramesh told reporters here on the sidelines of signing of financial agreements of 4,000MW Mundra UMPP bagged by Tata Power.

The government has so far awarded three UMPPs such as Mundra, Sasan, and Krishnapatnam.

The Minister said the Tilaiya UMPP is expected to be awarded within this current fiscal.

''Tilaiya UMPP is in advanced stage. We are working hard on this project and is expected to be completed by FY08-09,'' he said.

He showed optimism that the financial closure of the rest two UMPPs -- Sasan and Krishnapatnam -- will be completed within this fiscal.

With the completion of the three UMPPs, Mr Ramesh said another three UMPPs will be a big challenge.

UNI SBA PDT HT2049