Even as it gears up to woo investors in the state, mounting dues towards thermal powerplants, including private ones, have come to stare in the face of UP government.
UP Power Corporation Limited owes around Rs 3,500 crore to some of the major power plants such as NTPC, NHPC, Lalitpur power plant and Rosa power plant. The situation could turn serious as Lalitpur Power Generation Company has issued a letter to UPPCL saying it does not have enough funds to buy coal and keep its units functioning. In a letter dated January 12, the company said that outstanding dues by December-end had crossed Rs 1,200 crore. Of these, over Rs 830 crore had been pending for 60 days. Read More…
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