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Policies to revive stalled power projects underway: Piyush Goyal

By Newsd
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Source: Business Line

Union Minister Piyush Goyal on Saturday said that the Centre will soon come out with a scheme to revive various stalled power plants in the country. The broad policies to make abandoned projects viable was decided in a meeting between the Ministry of Power and lenders earlier this week.

“We have had a discussion with lenders. We have broadly worked out the contours of a scheme under which we will be able to complete all the stalled projects which are half way through,” Goyal said. He further added that India is facing a situation where many projects have been initiated, however, the demand is growing so rapidly.

“Therefore, we have nearly 20,000-25,000 megawatt of thermal power projects which are either stressed or potentially going to be stranded,” Goyal added.

He added that the government has launched a coal linkage scheme called Scheme to Harness and Allocate Koyla (Coal) Transparently in India (Shakti), which will help many power projects to become functional again. He said that in the past three years, the government has taken measures to expand power transmission and also to commission 50,000-megawatt capacity power plants, which were stalled.

“Those which are not viable even after that scheme (Shakti), we are looking at a comprehensive solution which will take care of them going forward with the collective efforts of the bankers, the national utilities and the financial institutions,” the minister said.