Offer rebates to get faster payments: UP to private power plants
Uttar Pradesh proposes to conduct unique online auctions among power plants under which companies which propose to offer higher rebates in dues will get faster repayment. The move has come as a surprise to the power industry as this will be the first time the power plants will make bids to get payments for power supplied to the state.
The payments are being done through loans being provided by Power Finance Corp and REC Ltd under the Centre’s Rs 90,000 crore liquidity infusion package under Atma Nirbhar scheme. Under the scheme, the payments to power generators are made directly by PFC and REC but state distribution utilities guide the financial institutions.
