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REC releases funds for Yadadri power plant
Highlights
In a major boost to the energy sector, Rural Electrification Corporation Limited (REC), a Navartna Central public sector enterprise under union Ministry of Power, on Tuesday released Rs 16,070 crore to Telangana state for the establishment of Yadadri thermal power plant at Damaracharla in Nalgonda
- Chief Secretary says Rural Electrification Corporation sanctioned about `16 crore at 11 per cent interest
- He hands over cheque to Chief Minister KCR
Hyderabad: In a major boost to the energy sector, Rural Electrification Corporation Limited (REC), a Navartna Central public sector enterprise under union Ministry of Power, on Tuesday released Rs 16,070 crore to Telangana state for the establishment of Yadadri thermal power plant at Damaracharla in Nalgonda The power project with 4500 MW capacity is being taken up jointly by the TSGENCO and BHEL (Bhrat Heavy Electricals Limited). The REC Chairman and Managing Director Rajiv Sharma handed over the cheque to the Chief Minister K Chandrashekar Rao at the latter’s camp office here. Rajiv Sharma said the Telangana State was the only State in the country to get huge funds from the REC.
Taking into account the government’s sincerity and its commitment, the Corporation had already released Rs 4,321 crore to set up another thermal plant with 800 MW installed capacity in Khammam district three months ago. The REC official said the interest rate on the funds given to the Telangana State was only 11 per cent as against 11.5 per cent collected in other states.
This would help the State to save Rs 500 crore. Thanking the Corporation for releasing the funds, the Chief Minister said his government would promote Telangana as “a power surplus State” by setting up state-owned power plants in three years. State Energy Minister G Jagadish Reddy, Chief Secretary Rajiv Sharma and TSGENCO CMD D Prabhakar Rao were also present.
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