Rural Electrification Corp (REC) is looking at overseas business, starting with neighbouring countries, to supplement revenue from its traditional business of lending to rural power projects, chairman PV Ramesh told ET in an interview.
Green energy like solar power would power India as 175 gigawatt (GW) of electricity is expected to be generated from renewable sources, Prime Minister Narendra Modi said here on Sunday.
For a country like India, assured and affordable supply of energy is the prime prerequisite for achieving economic growth and the Government of India has been supportive to growth in the power sector.
Addressing Debt Under UDAY : ACS-ARR Gaps Come Down By Almost 14 Paise Per Unit And AT&C Losses Reduce By Almost 1% in FY 17
The process of States taking over the targeted debts and issuing them as SDL Bonds has now been completed. According to MoP, as of now, the participating DISCOMs have to issue Bonds worth approximately Rs. 37,000 crores, which would be done in due course.
Power ministry’s flagship scheme, Ujwal DISCOM Assurance Yojana (UDAY) was launched in November, 2015 and has completed more than one year of operation .
The Ujjwal Discom Assurance Yojana (UDAY) introduced by the Narendra Modi government to reduce interest burden on debt-laden power distribution companies (discoms) seems to be finally yielding results, bolstering hope that 24×7 power supply would become a reality.
Prime Minister Narendra Modi on Friday reviewed the progress of the India’s flagship scheme–Ujwal DISCOM Assurance Yojana (UDAY) for the operational and financial turnaround of state distribution companies and
various aspects of mineral block auction at a high level meeting today.
Union Minister Piyush Goyal, and senior officials from PMO, NITI Aayog and other Ministries were present during the meeting
So far, 26 States and 1 UT have joined Ujwal Discom Assurance Yojana (UDAY) for financial and operational turnaround of their DISCOMs. Out of Rs.3,75,430 crores debt of state owned power distribution utilities, as existing on 31-03-2015, UDAY States account for Rs.3,62,231 crores of debt.
As on 30.09.2015 total debt of all State owned DISCOMs was Rs. 3.95 lakh Cr. The 26 states and 1 UT which have joined the UDAY scheme account for total outstanding debt of Rs. 3.82 lakh Cr. Hence, ~97% of the total outstanding debt of all State DISCOMs has been covered under UDAY.
India Shows The Way To The World In Fight Against Climate Change,
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal presided over the launch of World’s largest efficient lighting programme, UJALA – UK (UK Joins Affordable LEDs for All) by Energy Efficiency Services Ltd. (EESL) in London, United Kingdom today.
Piyush Goyal will formally announce state run EESL’s investment of 100 million pounds in the UK over the next 3 years.
Union Minister of State (IC) for Power, Coal and New & Renewable Energy and Mines, Piyush Goyal will be visiting Austria and United Kingdom from 10th to 13th May 2017 for an Energy Dialogue with both the countries.