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Rural Electrification Corporation to give 3,965.11 cr to Polavaram hydro project
Rural Electrification Corporation (REC) has sanctioned a loan assistance of Rs 3,965.11 crore to AP Power Generation Corporation Ltd (APGenco) towards Polavaram hydro-electric project (PFEP).
Amaravati: Rural Electrification Corporation (REC) has sanctioned a loan assistance of Rs 3,965.11 crore to AP Power Generation Corporation Ltd (APGenco) towards Polavaram hydro-electric project (PFEP).
According to Principal Secretary to Energy Department K Vijayanand, the Central Electrification Authority (CEA) accorded Techno Economic Clearance to Polavaram hydro-electric project at an estimated cost of Rs 3,013.68 crore with a basic (levelised) tariff of Rs 3.17/kwh.
He also said the REC sanctioned a loan assistance of Rs 3,965.11 crore to APGenco for hydel project a few days ago. The total estimated cost of the project is Rs 5,338 crore (as per revised estimates).
The State government has given top priority to complete construction of Polavaram hydro-electric project on fast track mode by March 2022. The project is expected to double the hydel power generation in Andhra Pradesh from the existing 2,336 MU (FY 2016-17) to around 4,600 MU by 2022.
During a review meeting with Energy department officials on Sunday, Chief Minister N Chandrababu Naidu said that the fast track completion of Polavaram hydel electric project would be a great help for the state as it would meet peak load requirements.
“Put up special focus for early completion of all the power projects which will help to enhance the installed capacity of the state,” the Chief Minister said.
In view of future investments, industrial development and construction of world-class greenfield capital city Amaravati, promotion of preen power was given priority by the State government, Naidu added.
“Power utilities should workout plan to have a minimum 40 to 45 per cent of renewable energy on a sustainable basis apart from modernising the thermal power stations through adopting global efficient technologies like super critical boiler to substantially reduce the pollution,” the Chief Minister said.
Minister for energy Kala Venkat Rao, chief secretary Dinesh Kumar, special chief secretary Satish Chandra, principal secretaries Sai Prasad and Ajay Jain, energy department advisor K Ranganatham participated.
