Power minister Piyush Goyal said on Thursday he was working on a proposal to revive stalled hydropower projects to enable them to sell power at a competitive tariff.
Addressing industry executives at The Verdict, the Mint-CNBC-TV18 conference on Budget 2017 in New Delhi, Goyal said his ministry will seek cabinet approval shortly on a proposal for financial re-engineering of stalled hydropower projects. He said the provision for budgetary support will be invoked as a last resort as it was vital for projects to be self sustaining.
“We are working on revitalizing hydropower and see if tariff can be less than Rs5 a unit. Hydropower projects in hill states have become expensive due to associated infrastructure requirements. Budgetary support may be the last resort,” Goyal said, adding that the LED industry had become self sufficient and cost-competitive without government support. Read More…
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