3,300 crore Nirbhar loan to Andhra Pradesh discoms

Vijayawada: The Union government on Monday has announced to release Rs 3,300 crore loan to Andhra Pradesh power sector under second tranche of Aatma Nirbhar loan.

Union minister for energy, new and renewable energy RK Singh directed officials to release the amount to AP during his meeting with state energy secretary Srikant Nagulapalli, APGenco G Saiprasad at Shram Shakthi Bhavan in New Delhi.

The Union ministry of power was all praise for Chief Minister YS Jagan Mohan Reddy in showing way to other states in introducing DBT (director benefit transfer) for free power scheme which will empower farmers and strengthen discoms financially.

The Union minister has assured that 30 per cent subsidy on 10,000 mw solar project for farmers' free power will be provided. The state government has proposed the solar power project aiming at ensuring free power supply to agriculture sector for the next 30 years. The government has recently invited tenders for the project.

When the AP officials explained the poor financial status of AP discoms due to various reasons, the minister responded positively and also assured that the Union government would certainly provide all support for easing excess financial burden on AP discoms and also asked the state government to think and list out the support required.