After a two-month break in releasing the sanctioned loan instalments or clearing bills of work done, two public sector finance companies – Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) – funding the 5×800 megawatt Yadadri Super Thermal Power Station (YTPS) resumed clearing the bill submitted by Telangana State Power Generation Corporation (TS-Genco) on Thursday.
The two public sector undertakings (PSUs), financing ₹22,000 crore – (REC ₹17,000 crore) and PFC (₹5,000 crore) – for the execution of YTPS by TS-Genco, have been releasing the sanctioned loan instalments every month on getting the bills sent by the Genco. “However, for reasons better known to them, the two agencies have not released instalments for the last two months affecting the progress of the project, which is already delayed due to the two COVID-19 pandemic years”, official sources said.
Minister for Energy G. Jagadish Reddy went on record earlier in the day accusing the BJP-led Government at the Centre of conspiring to create hurdles in the execution of power projects in Telangana by stopping release of bills pertaining to YTPS as part of its tactics to make the State toe its line of implementing reforms in the energy sector.
