Power ministry seeks change in RBI order on stressed units

Power ministry seeks change in RBI order on stressed units

Stressed power assets have got a major boost as the power ministry has strongly recommended substantial changes to the RBI’s controversial Feb 12 circular on loan defaults that industry says will send capacity of 30,000 megawatts into liquidation, while the coal ministry has assured higher fuel supply to thermal plants with the help of auctions.

PSB-funded power projects may have to procure local equipment

PSB-funded power projects may have to procure local equipment

The government is considering making it mandatory for all power projects funded by state-run banks to procure local equipment. A public procurement mechanism with purchase preference to domestic equipment manufacturers for future electricity generation, transmission and distribution projects is in the works, a senior government official said.