Tangedco to raise Rs 7,600 cr via bonds; may import coal for summer demand

Tamil Nadu's state power utility has decided to import 4.8 lakh tonnes of coal as demand surges

The Tamil Nadu Generation and Distribution Corporation (Tangedco) will raise around Rs 7,600 crore through bonds in the financial year 2022-23 for swapping high-cost loans, said a source.

This comes at a time when Tamil Nadu registered a record demand of 17,106 MW (megawatt) last week. The state power utility decided to import 4.8 lakh tonnes of coal to handle the surge in power demand in summer. A tender in this regard is expected to be opened on April 11. The state had imported 20 lakh tonne of coal from private players the last time in 2019 from Indonesia