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TN onboard with UDAY
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines Piyush Goyal presided over the signing of the Memorandum of Understanding (MoU) under the Ujwal DISCOM Assurance Yojana (UDAY) with the Government of Tamil Nadu and its DISCOM TANGEDCO, for operational and financial turnaround of the DISCOM in New Delhi on Monday.
Hyderabad: Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines Piyush Goyal presided over the signing of the Memorandum of Understanding (MoU) under the Ujwal DISCOM Assurance Yojana (UDAY) with the Government of Tamil Nadu and its DISCOM TANGEDCO, for operational and financial turnaround of the DISCOM in New Delhi on Monday.
The signing ceremony was held in the presence of the P Thangamani, Minister for Electricity, Prohibition & Excise, Government of Tamil Nadu, P K Pujari, Secretary (Power), Dr P V Ramesh, CMD, REC and senior officials from the Ministry of Power, Government of Tamil Nadu, TANGEDCO and REC.
Tamil Nadu would derive an overall net benefit of approximately Rs. 11,000 crore through UDAY, by way of savings in interest cost, reduction in AT&C and transmission losses, interventions in energy efficiency, coal reforms etc.
UDAY was launched by the Government of India on November 20, 2015 to provide a permanent and sustainable solution to the debt-ridden Distribution utilities for achieving financial stability and growth, and now has 21 States in the club after Tamil Nadu coming on board. REC is the implementing agency for the scheme.
