1. Uttarakhand gets a power push: PFC extends Rs 1,329 crores financial assistance

Uttarakhand gets a power push: PFC extends Rs 1,329 crores financial assistance

Power Finance Corporation, the backbone of Indian power sector has extended financial assistance worth Rs 1,329 crore to State Power Utilities of Uttarakhand.

By: | Published: October 10, 2017 5:52 PM
Indian power utilities, Indian power utilities digitised, Indian power utilities manual processes, Indian power utilities growth, International Data Corporation, Energy Insights, survey power utilities, Schneider Electric report The government of India is aiming big in Uttarakhand, and envisages to cover the entire state under “Power For All”  programme. (Image:Reuters)

Power Finance Corporation, a state-run power financier, has extended financial assistance worth Rs 1,329 crore to State Power Utilities of Uttarakhand. According to a press release, Rs 309 crore from the total amount is allocated towards Chilla Hydroelectric Project undertaken by Uttaranchal Jal Vidyut Nigam Ltd (UJVNL) and Rs 1,020 crore was disbursed to Power Transmission Corporation of Uttarakhand (PTCUL) for implementation of  various transmission schemes.

For the FY15-16, the total loan funds in Uttarakhand Jal Vidyut Nigam balance Sheet stood at Rs 1,381 crores.  According to data with PFC, Uttarakhand showed an improvement of more than 4% in reduction of AT&C (Aggregate Technical & Commercial) losses in FY 2015-16. Notably, seven other states in the list included West Bengal, Tamil Nadu, Karnataka, Sikkim, Jharkhand, Arunachal Pradesh and Uttar Pradesh.

“The present performance of power utilities of Uttarakhand convince me that we will certainly accomplish the target level of 14% AT&C losses earlier than the timeframe of FY 20, finalised by Govt. of India. As we are supplying reliable and affordable power to our consumers at present, the programme of 24×7 “Power For All” will definitely add quality to it,” Harish Rawat, former Chief Minister of Uttarakhand had said earlier this year.

The government of India is aiming big in Uttarakhand, and envisages to cover the entire state under “Power For All”  programme in a phased manner and provide 24×7 power supply to all domestic, agriculture industrial and commercial consumers for all connected households.

“In a Loan Documentation event organized recently in Dehradun, the loan documents for Chilla Hydro Electric Project and MOU for execution of Loan Documents for Rs 817 crore were executed between PFC and Power utilities of Uttarakhand viz. UJVNL and PTCUL respectively, in presence of Smt. Radhika Jha, Secretary (Energy) and Chairperson, UJVNL&PTCUL, Shri. Rajeev Sharma, CMD, PFC and other senior officials from both sides,” said the press release. PTCUL had earlier executed loan documents for financial assistance amounting to Rs 203 crore with Power Finance Corporation.

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