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RoC gives nod for TGenco
RoC Gives Nod For TGenco. The division of assets in the State Energy sector, including power generation centres and power utilities, between the two proposed States -- Telangana and residuary Andrha Pradesh -- started officially with the constitution of Telagnana Power Generation Corporation Limited (TGenco).
First PSU to come into existence in new Telangana State
Hyderabad: The division of assets in the State Energy sector, including power generation centres and power utilities, between the two proposed States -- Telangana and residuary Andrha Pradesh -- started officially with the constitution of Telagnana Power Generation Corporation Limited (TGenco).
The Registrar of Companies (RoC) gave an endorsement for the incorporation of TGenco, the first public sector undertaking (PSU) to come into existence in the new State of Telangana, following an application submitted by the government on May 16.
The State Energy department officials said that the TGenco would be the authorised body to establish new power generation centres under public sector and also oversee the functioning of the existing thermal, hydel and non-conventional energy centres in Telangana.
According to the sources in the Genco, the three thermal power plants located at -- Kothagudem, Ramagundam and Bhupalpalli -- and Jurala and Sriram Sagar hydel projects in Telangnaa would function under the directions of the TGenco from now. The role of the TGenco would also be finalised once the division of the hydro electric power projects at Pulichintala and Srisailam left and right bank canals are completed.
The officials said that the government was waiting for response from the Centre on the division of hydel projects between the two States.
The RoC announced incorporation of the TGenco at an authorised capital of Rs 1,500 crore. The authorised capital gives the corporation the leverage to raise funds to the tune of Rs 1,500 crore in the event of taking up new projects in the new State.
The authorised capital is in addition to the TGenco’s share of close to Rs 1,300 crore in the total capital of Rs 2,106 crore of the undivided APGenco.
The first meeting of the TGenco would be held after the Appointed Day on June 2. The functioning of the TGenco would begin after the appointment of the Managing Director and Vice-Chairman (MD and VC) for the corporation.
