New Delhi: The Centre is “very close” to firming up a resolution mechanism for stressed and stalled thermal as well as hydro power projects, power minister Piyush Goyal said on Monday.
According to industry estimates, there are stressed and stalled hydro and thermal power project of over 35,000 MW including 11,639 MW hydro electric plants. Experts put the value at over Rs 1.6 lakh crore.
“We have had very extensive engagements with all the stakeholders particularly bankers and financial institutions like REC and PFC...states and other government departments”, Mr Goyal told reporters here while speaking about the government performance in the last three years.
“We have come very close to resolution mechanism for at least those stressed power plants where the promoters are not found to be wilful defaulters or where do not find significant irregularities,” he said.
Bankers are taking pro-active measures to take over such plants which have defaulted and the power ministry is working with the lenders to find a win-win solution, he said, adding that the final beneficiary of this would be consumer.
