TS bags huge loan for setting up Yadadri Power Project

Telangana government bags huge loan from Rural Electrification Corporation (REC) for setting up 800 MW Yadadri Power Plant at Damaracharla in Nalgonda district. Rajeev Sharma, the Chairman and Managing director of the REC has handed over the cheque to Chief Minister KCR yesterday in the presence of State Energy Minister Jagadish Reddy, Chief Secretary of the statement government Rajeev Sharma, Arvind Kumar, the Chief Secretary of the Electricity department, Prabhakar Rao, the CMD of GenCo and few others.

Later speaking to the media, state chief secretary Rajeev Sharma said “This is first time REC is granting such a huge loan to any statement government in the country for setting up power plant. Earlier it has granted Rs. 4,312 crores loan for setting up power plant at Palwancha and again now grants this huge loan now. It granted after seeing our sincere efforts to overcome the power crisis. Power corporation also granted another Rs.4000 crores for setting up 800 MW power plant in the state. The REC also has reduced its interest rate from present 11.50 per cent to 11.00 per cent with which Rs. 500 crores burden reduced on the statement government.”

Telangana statement government’s efforts for getting un-interrupted power supply pilot project to the state are also become fruitful. Union Minister for Energy Piyush Goyal has formally agreed to grant this pilot project to the state very soon. If, all these things materialized then Telangana state may definitely come out of its power crisis.