After a prolonged delay of 11 years, the Udangudi power project is finally set to take off. As per reports, the project worth Rs 1,000 crore, funded by the Rural Electrification Corporation (REC), will be executed by Bharat Heavy Electricals Limited (BHEL) in 42 months.
As per data from the Power Ministry, almost one third of the distressed power plants are unable to repay loans totalling crores of rupees are in Chhattisgarh. The ministry recently submitted a list of 34 such projects to a parliamentary panel on energy.
Coal India’s capital expenditure for this fiscal has been set at Rs 8,500 crore. According to reports, the company will be investing Rs 6,500 crore in developing diverse projects such as a supercritical thermal power plant, coal gasification, solar power and coal bed methane.
The Rural Electrification Corporation (REC) has entered in a loan agreement with the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for the setting up of the Udangudi Stage-I (2 x 660 MW) coal-based Supercritical Thermal Power Project in Tuticorin, Tamil Nadu.