“PFC and REC provide loan to distribution and generation sector with a spread of 2.5 to 3 per cent. Under the present scheme, they have agreed to take lower 1.5 per cent spread that will lower the interest rate,” he said New Delhi: Financially stressed discoms will be offered loans at cheaper rates of 8.5 […]
Govt finalising Rs 3.5 lakh cr discoms package on the lines of UDAY: R K Singh
The scheme will come with a gross budgetary support of Rs 1.2 lakh crore over five years will be result-oriented where the distribution companies will invest first and get money later. New Delhi: The government is close to finalising a Rs 3.5 lakh crore financial assistance package that would mandate state power distribution companies with […]
NTPC shares down 5 per cent post waiver announcement of fixed charges
In a bid to provide further relief to the discoms, the government has decided to waive fixed charges and inter-state transmission charges (by PowerGrid) against power not drawn from various public sector units during the lockdown, from March 24 to May 17 Mumbai: Shares of NTPC Ltd fell by around 5 per cent on Thursday, […]
Energy sector players cheer stimulus, says steps towards self-reliance
Welcoming the announcement, Vikram Solar CEO Saibaba Vutukuri said the “path-breaking initiative” aims to make India self-reliant and reduce import dependency on imports for solar modules and its components New Delhi: Energy sector players on Wednesday hailed the government’s move to infuse Rs 90,000 crore liquidity into power distribution companies (discoms), saying the stimulus will […]
Uttar Pradesh’s outstanding dues to gencos hit Rs 32,000 crore
As on April 2020, the state discoms have accumulated pending bills to the tune of Rs 32,000 crore to gencos, as against a total of Rs 17,500 crore owed by them in March 2019, reflecting a severe stress in the sector. Even as the Centre has announced a fresh Rs 90,000-crore package by PFC-REC to […]
Sumant Sinha – CMD ReNew Power, Quote on Financial Relief for Power sector announced on May 13,2020
“The 90,000 cr liquidity infusion into discoms will breathe fresh life into the power sector and protect distribution companies from going bankrupt. This money will help the discoms to repay most of the Rs 92,000 crore outstanding payments that they owe to power generators, restarting the virtuous cycle of liquidity, higher investments and rapid […]
Power Package: ₹45,000 cr liquidity for NBFCs; ₹90,000 cr for discoms
FM Sitharaman announced ₹30,000 cr liquidity facility for NBFCs, housing finance companies and MFIs Among other big bang announements, Finance Minister Nirmala Sitharaman on Wednesday announced collateral free automatic loans for businesses, including MSMEs, up to ₹3 lakh crore. She also said ₹45,000 crore liquidity will be infused into NBFCs through partial credit guarantee […]
EESL helps DISCOMs generate 95% of billing efficiency, with its Smart Metering Programme
Smart Prepaid meters have enabled DISCOMs in Bihar in generating daily revenue of INR 500000 during nationwide lockdown New Delhi: Energy Efficiency Services Limited (EESL), a PSU under the Ministry of Power, Government of India, is the designated agency to implement the smart metering programme in India. Under this programme, a total no. of […]
Discoms’ outstanding dues to power gencos rise to Rs 10,763 cr in Mar’20
Discoms’ outstanding dues to power gencos rise to Rs 10,763 cr in March The portal was launched in May 2018 to bring in transparency in power purchase transactions between the generators and discoms Power producers’ total outstanding dues owed by distribution firms jumped to Rs 10,763 crore in March 2020 over the same month […]
Peak power demand in India still down 26 per cent at 134.7 Gigawatt in May
New Delhi: Peak power demand remained down by over 26 per cent in May so far at 134.7 GW despite partial easing of the coronavirus lockdown. In April too the peak power demand was down by about one-fourth as compared to the corresponding month last year. According to power ministry data, the peak power […]