The government will auction three ultra mega power projects, to be set up in three states of Bihar, Odisha and Tamil Nadu with an investment of over Rs 80,000 crore, by March this year.
Power Secretary P K Pujari today said that there will be auction of "three UMPPs by March definitely".
"These are Banka in Bihar, Bedabahal in Odisha, and Cheyyur in Tamil Nadu," Pujari told reporters on the sidelines of the India Investment Summit 2016.
The Secretary, however, said that the Cheyyur UMPP is based on imported coal but there is a possibility of putting the project on the block.
"The bid document for the domestic coal has been finalised and will soon be put for Union Cabinet approval," he said.
As per the standard procedure, the bid document has be in place for auctioning a project. The document for imported coal is also being finalised by the ministry which will be sent for Cabinet approval.
The investment for an UMPP of 4,000 MW has been revised from Rs 20,000 crore to about Rs 27,000 crore recently on basis of rise in the price of coal and land. Thus the three projects entails an investment of over Rs 80,000 crore.
Government had aborted bidding for Cheyyur (Tamil Nadu) and Bedabahal (Odisha) in January last year due to tepid response from private sector.
Private firms, which had participated in the first round of bidding for both the projects, withdrew their bids citing difficulties in securing finances for these projects.
Punjab would take over Rs 15,628 crore of discom debt,
being 75 per cent of the total discom debt of Rs 20,838 crore. outstanding as on September 30.
The scheme also provides for the balance debt of Rs 5,210 crore to be re-priced or issued as State guaranteed discom bonds, at coupon rates around 3 per cent less than the average existing interest.
At present, as many 17 states and a union territory have evinced their interest to join UDAY scheme.
The government is expecting that by the end of this fiscal the agreements under the scheme would be signed which would cover over 90 per cent of total discoms debt of Rs 4.3 lakh crore.
In a bid to rescue almost bankrupt state electricity retailers, the Centre had launched UDAY scheme for rejig of Rs 4.3 lakh crore debt of the utilities in November.
Under the scheme states governments, which own the discoms, can take over 75 per cent of their debt as of September 30, and pay back lenders by selling bonds.
For the remaining 25 per cent, discoms are to issue state guaranteed bonds.
The UDAY scheme is optional and operationalised through signing of a tripartite Memorandum of Understanding by Centre, States and their discoms.
