Ministry seeks funds for coal-fired power plants, but banks set to say no

TAKING A cue from the Reserve Bank of India (RBI), banks are likely to decide against funding the working capital requirements of 13 imported coal-fired power plants — key to the Union power ministry’s proposal on revival of these units as part of an extended range of measures to tide over the continuing electricity shortage.

The units include three phases of Adani Power’s Mundra station, projects of Essar Power Gujarat and JSW Ratnagiri, and Tata Power’s Coastal Gujarat Power Ltd., most of which are currently shut down due to fuel-related issues and are categorised as non-performing assets on bank books.