Mumbai: Union Power Minister Anant Geete on August 28 said that the consortium of financial institutions led by IDBI will soon take charge of the "assets" of the controversial Dabhol Power Project and asked Maharashtra to agree for hiking the tariff to buy power from the first phase of the idle project.

Geete, who took over the power portfolio following the resignation of Suresh Prabhu, said, "The IDBI-led FIs shall soon take charge of the assets and control them."

Geete said NTPC has all necessary technical expertise to operate the plant and has not expressed any reservations on taking this responsibility.

Stating that the $ 2.9 billion project has been lying idle for over a year now, he said Maharashtra government and its electricity board (MSEB) should agree for a hike in their proposed tariff of Rs 2.25 per unit.

"Dabhol power project, in which over Rs 9,000 crore have been invested, is lying idle for more than 18 months. We are discussing the matter with the state government and hope to see some solution in next two months," he said.

"The early recommissioning of the plant will help to turn the idle asset into an income generating one," Geete said adding this would enable Enron-controlled Dabhol Power Company (DPC) to pay its dues to the FIs.

The 740 MW phase-I was shut last year and construction on 1,444 MW Phase-II stopped following dispute between DPC and its sole customer MSEB over cost of power.

PTI