Hyderabad, Jan. 26 (PTI): Looking to exit the stalled 4,000 megawatt (MW) Krishnapatnam power project, Reliance Power has written to the Andhra Pradesh government suggesting that it could be done on similar lines to that of the Tilaiya UMPP, which was acquired by procurers from the company.

The company has said the Krishnapatnam UMPP, which was awarded to it in 2007, could not be taken forward because of escalated coal cost from Indonesia among other factors.

The Krishnapatnam ultra mega power project (UMMP) is located in Andhra Pradesh, while the Tilaiya plant was in Jharkhand.

Reliance Power has informed the Andhra Pradesh government that the procurers of Tilaiya UMPP, which was stalled for over five years, have accepted the termination of the power purchase agreement and decided to purchase the entire stake in the project special purpose vehicle from the company by way of mutual discussion with the developers.

"We are fully confident that the issues pertaining to the Krishnapatnam project can also be resolved in the same spirit by following similar principle by parties," Reliance Power CEO N. Venugopala Rao said in a letter to the state government last month.

"We, therefore, request you to kindly consider similar resolution for the Krishnapatnam UMPP by purchasing the ownership of the project SPV with its assets, including land, from the present owners on mutually acceptable terms and return the performance bank guarantees furnished by us," Rao said in the letter.