Biomass, CleanFuel, CleanTech/ Renewable Energy, Other

Tamil Nadu announces Rs 3.52 billion short term loan to setup 12 co-generation power plants of 182 MW capacity

According to reports, the Tamil Nadu Chief Minister J Jayalalithaa announced a sum of Rs. 352 crore as short-term loan towards setting up co-generation power units in 10 cooperative and two public sector sugar mills in the state.

The power units to add 183 MW were being set up with the help of TNEB with funding and loans from Power Finance Corporation, Indian Renewable Energy Development Agency and Sugar Development Fund, an official release in Chennai said.

There was a delay in obtaining loan from Sugar Development Fund and to ensure speedy work, the Chief Minister directed the government short-term loan, it added.

Also, on Wednesday, the government granted the state-run TANGEDCO (formerly TNEB) Rs. 375 crore subsidy to procure electricity in the face of a dip in hydel power generation.

Earlier, government had invested in treasury bonds during good rainfall years in accordance with a directive from the Chief Minister during her earlier regime who had instructed that the money be used during distress period.

“Generation in TNEB’s hydel Power stations go down by a large extent during times when monsoon fails. To compensate the damage, the Chief Minister had directed in her previous regime that government deposit Rs. 125 crore a year in treasury bonds which could be withdrawn later to be given to TNEB to procure additional electricity,” an official release in Chennai said.

The total invested sum in treasury bonds was Rs. 375 crore and with “monsoon failing this year” Jayalalithaa had directed compensation of the said amount to TNEB as subsidy, it added.

Advertisements

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Panchabuta's Trending Tweets

Panchabuta’s Twitter

Web Analytics Clicky
stats for wordpress
%d bloggers like this: