India’s energy sector has witnessed rapid growth over the last one year fueled by interventional policies, reforms and investments.
With 21 states now agreeing to go along with the Ujjwal Discoms Assurance Yojana (UDAY), the scheme to rescue the finances of electricity distribution companies (discoms), the Union ministry of power will do a mega tender for procuring ‘smart meters’ for these states.
Feedback Infra, one of India’s top infrastructure services companies, has been working with the ministry of power on the Ujwal Discom Assurance Yojna (UDAY)
ikkim is likely to join Ujjawal Discom Assurance Yojana (UDAY) next week taking the tally of states accepting the centre’s electricity distribution revival scheme to 22
A Moody’s Investors Service-ICRA report on Thursday upgraded the outlook for the Indian power sector to “stable” over the next 12-18 months with a Baa3 positive rating
India’s power distribution system is showing concrete signs of revival and lower operational losses as chronically inefficient states have significantly narrowed the gap between cost and revenue, reduced unmetered supply and are planning large bond issues in 10 days.
All states barring Uttar Pradesh have inked agreements with the Centre to achieve the milestone of providing ’24×7 Power For All (PFA)’.
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.
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.
An official spokesperson of the Power Department today said that an announcement to this effect had been made by Union Minister of State for Power, Piyush Goyal.