The Uttar Pradesh Power Corporation has sought state government guarantees for loans of nearly Rs 21,000 crore to be borrowed from PFC-REC for payment of outstanding dues of central generating stations (CGS), independent power producers (IPPs) and renewable energy (RE) generators. It has also sought subsidy support for debt servicing of this loan.
An action plan for FY21 to FY24 has been prepared and sent to the finance and law departments for vetting, after which it has to be approved by the state cabinet.
