PFC to lend 4,000 cr to Yadadri Power Plant

Hyderabad: Telangana State Generation Corporation (TSGenco) received a shot in the arm in the form of Rs 4,000 crore as loan from the Power Finance Corporation (PFC) for the construction of prestigious Yadadri Power Plant.

The Power Finance Corporation CMD Rajiv Sharma on Friday handed over a letter, agreeing to give Rs 4,000 crore finance assistance to the fifth phase of the Yadadri Ultra Mega Thermal Power Plant, to TS Genco CMD D Prabhakar Rao in Vidyut Soudha. The Yadadri Power Plant is being set up in Damaracherla with five units, each having the capacity of 800 MW with super critic technology.

The Rural Electrification Corporation had already agreed to provide Rs 16, 950 crore needed for the first four plants. With the latest offer PFC’s help has reached to Rs 28,210 crore to TS Transco, Genco and distribution companies. The Corporation has so far paid Rs 16, 156 crore to these institutions.

The TS Genco chairman Prabhakar Rao thanked the PFC for extending financial help and said that the Yadadri Power Plant would be crucial for the irrigation projects, supply of 24x7 power to the farm sector and to enhance the power generation according to the needs that arise in future.

All the required permissions have been cleared for the prestigious plant and the required finances are also in place for the construction of the project. As instructed by Chief Minister K Chandrashekar Rao, works on the Yadadri Power Plant would be expedited, Prabhakar Rao said.