Tamil Nadu becomes 21st State to join UDAY

State to derive an Overall Net Benefit of approximately Rs. 11,000 crores through UDAY. The State would have savings of about Rs.950 cr. in annual interest cost through reduction of debt and through reduced interest rates on the balance debt.

Tamil Nadu becomes 21st State to join UDAY

In a significant move and following months of persuasion by the Centre, Tamil Nadu came on board the power ministry’s flagship scheme UDAY. By signing the MOU under UDAY, the State Government is taking over 75% of debt of Rs. 30,420 crores of TANGEDCO. The scheme also provides for the balance debt to be re-priced or issued as State guaranteed Discom bonds, at coupon rates around 3-4% less than the average existing interest rate.

India unveils the world’s largest solar power plant

India unveils the world’s largest solar power plant

Images have been released showing the sheer size of a new solar power plant in southern India. The facility in Kamuthi, Tamil Nadu, has a capacity of 648 MW and covers an area of 10 sq km. This makes it the largest solar power plant at a single location, taking the title from the Topaz […]

37 mineral blocks to be re-auctioned, a total of 98 blocks to be auctioned during this fiscal: Mines Secy Balvinder Kumar

Secretary, Mines, Balvinder Kumar said that another 61 blocks have been identified and will be put on auction within this fiscal, thereby taking the total number of blocks being auctioned during 2016-17 to 98 blocks.

37 mineral blocks to be re-auctioned, a total of 98 blocks to be auctioned during this fiscal: Mines Secy Balvinder Kumar

After the successful auctioning of 16 mines, the government will re-auction the 37 mineral blocks by the end of December this year as these blocks did not elicit a satisfactory response in the recently held auction process. These 37 mineral blocks are in the states of Andhra Pradesh, Jharkhand, Chhattisgarh, Rajasthan, Karnataka and Odisha.