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RECL to fund TS power projects

RECL to fund TS power projects
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Highlights

In a major boost to the energy sector in Telangana State, the Rural Electrification Corporation Limited (RECL) has come forward to fund Rs 24,000 crore to TSGENCO for the setting up of power projects with 6,280 MW installed capacity. A Memorandum of Understanding (MoU) was signed by RECL Chairman and Managing Director Rajeev Sharma

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Hyderabad: In a major boost to the energy sector in Telangana State, the Rural Electrification Corporation Limited (RECL) has come forward to fund Rs 24,000 crore to TSGENCO for the setting up of power projects with 6,280 MW installed capacity. A Memorandum of Understanding (MoU) was signed by RECL Chairman and Managing Director Rajeev Sharma and TSGENCO Chairman and Managing Director D Prabhakar Rao in the presence of Chief Minister K Chandrashekar Rao to this effect on Saturday.

Under the agreement, RECL would fund the setting up of 800 MW unit at Kothagudem Thermal Power Station (KTPS), 1,080 MW at Bhadradri in Manuguru in Khammam district and 4,400 MW at Damaracherla in Nalgonda district, totalling 6,280 MW. In addition to the RECL funding, the Power Finance Corporation (PFC) had earlier agreed to fund Rs 15,000 crore for these projects and TSGENCO would contribute Rs 3,000 crore, totalling Rs 42,000 crore.

This apart, NTPC would be spending Rs 24,000 crore for its 4,000 MW project and Singareni Rs 4,000 crore. Another Rs 21,500 crore would be invested in solar projects and evacuation and transmission lines in parallel. The total investment for 10,280 MW power plants in the next four years would amount to Rs 91,500 crore. The Chief Minister told the RECL Chairman that with the funding from RECL, PFC and TSGENCO, the financial part was achieved. The second important component was acquiring land for the projects. State Secretary (Energy) Arvind Kumar and Special Secretary to CM Bhupal Redy were present.

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