IL&FS Group’s ITPCL energy plant has the very best due of Rs 2,498.3 crore from the state, adopted by Jindal Metal and Energy (Rs 1,481 crore), DB Energy (Rs 1,105 crore), Vedanta’s Balco unit (Rs 724 crore) and GMR Power (Rs 469 crore).
Unbiased energy producers (IPPs) have been requested by Tamil Nadu’s state electrical energy board Tangedco to supply tariff rebates for previous provides if they need their previous dues to be settled beneath the Centre’s liquidity infusion scheme. Over-dues — dues pending for over 60 days — payable by Tangedco to energy turbines stood at Rs 20,268 crore on October finish, and over 50% are owed to personal energy producing firms.
IL&FS Group’s ITPCL energy plant has the very best due of Rs 2,498.3 crore from the state, adopted by Jindal Metal and Energy (Rs 1,481 crore), DB Energy (Rs 1,105 crore), Vedanta’s Balco unit (Rs 724 crore) and GMR Power (Rs 469 crore).
Aside from the aforementioned firms, items of Tata Energy and CESC additionally provide electrical energy to the state. Tamil Nadu is searching for the low cost regardless of energy turbines agreed to cut back the speed of late cost surcharge from the present 18% to 12%.
“IPPs are being requested to offer 50% low cost on late cost surcharge dues and 20% low cost on pending mounted cost quantities,” an business supply informed FE. Pointing the discrepancy to Union energy minister RK Singh, the Affiliation of Energy Producers (APP) have written in a letter that “Tangedco is pressurising particular person IPPs and making an attempt to arm twist them into accepting enormous reductions on the pending dues”.
Tamil Nadu has acquired Rs 30,000 crore beneath the Centre’s Rs 1,20,000-crore liquidity infusion scheme to clear the excellent dues owed to IPPs. Based on the design of the scheme, the funds from PFC-REC are scheduled to be disbursed to the state in two equal tranches and equally, the dues to IPPs are to be cleared in two equal instalments. “You might be additionally requested to direct PFC and REC to insist on non-discriminatory entry to the liquidity window funds and never launch funds in components as it will put extra strain on the IPPs who’re refusing to succumb to the unreasonable calls for of Tangedco,” the APP letter added.
Despite the Union energy ministry round clarifying on July 30 that “the funds (to gencos) in opposition to the sanctioned mortgage quantities could also be made to them in proportion of their dues”, APP mentioned that Tangedco has advisable cost of dues beneath the liquidity infusion scheme solely to central producing stations and some renewable power turbines. The Uttar Pradesh Energy Company had resorted to comparable ways of searching for rebates to clear dues to gencos in August, and the Union energy ministry had strongly objected to the method, calling it “unfair” and “discriminatory”.
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source https://www.mcxfree.tips/tamil-nadu-seeks-reductions-to-clear-dues-of-personal-gencos/
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December 03, 2020 at 07:18AM
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