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Business EconomyPosted at: Oct 6 2017 5:43PM


Thermal power generation to be phased out by 10 yrs: CS

Amaravati, Oct 6 (UNI) Rural Electrification Corporation Chairman and Managing Director P V Ramesh called on Chief Secretary Dinesh Kumar at the Secretariat here on Friday.
Both the officials discussed various issues, including opening of office to REC in Vijayawada and the on-going rural electrification projects.
On the occasion, the Chief Secretary said the thermal power generation would be phased out by 10 years in the state as the government focused on the solar, wind and hydro power generation in a big way. Electricity could be generated with less expenditure through solar and wind energy and the government had given top priority for the same.
The Chief Secretary asked the REC Chairman to extend help to introduce battery-run buses in Vijayawada Thirupathi and Visakhapatnam. Mr Ramesh assured the Chief Secretary to extend the required help in the electrification of Amaravati region. Funds are being released under Deenadayal scheme and efforts are being made to utilize funds. The REC is extending help for solar and wind energy projects.

He said an MoU was signed between the REC and the state government on January 25th to extend Rs 10,000 crore loan to the AP Transco and AP Discom for the period of five years from 2017 to 2022 on 10 per cent interest rate.
However, on the request of the AP Transco, the REC reduced the interest rate from 10 per cent to 8 per cent, which benefited Rs 200 crore to the state government, the Chief Secretary said.
The REC consented to extend loans in future also for the construction of various power generation projects on 8 per cent interest, he said. AP Transco Joint Managing Director P Dinesh, Genco Director (finance) Aadinarayana, AP EPDCL Director (Finance) Chandrsekhar were present.
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