Boost to power sector; Rs.4,000 cr. for AP Genco
The government has decided to extend equity support up to Rs.4,000 crore to AP Genco during the next four years to facilitate early completion of its upcoming power projects.
This government response followed consistent Opposition criticism that the Genco is being neglected by it vis-à-vis private developers. The undertaking which meets over 40 per cent of the power demand in the State through its various thermal, hydel and other stations, has taken up new projects with installed capacity of 21,000 MW at a huge cost of over Rs.36,000 crore.
The decision to extend a big helping hand to Genco was taken by Chief Minister N. Kiran Kumar Reddy while reviewing the power supply position here on Saturday with Information Technology Minister Ponnala Lakshmaiah, who looks after Power portfolio, and energy officials.
The Chief Minister cleared a slew of measures to improve the electricity availability to consumers in the State and ensure seven-hour supply to farmers. These included a decision to give boost to renewable energy sources by facilitating establishment/completion of new projects based on wind and solar energy on fast track mode as they were expected to add 1,000 MW to the grid (over 20 million units).