Hyderabad: The power deficient Telangana got a boost when it entered into a MoU with the power finance corporation for an Rs 15,000 crore soft loan to find two major power projects in the two districts.
And M.K.Goel signed the crucial Memorandum of understanding with Telangana Genco chairman-cum-managing director. As per the MoU, PFC will finance T-Genco Rs 15,000 crore. On the request of the CM, the PFC chairman also agreed to reduce the interest rate from 12 per cent to 11.5 per cent, which will save T-Genco around Rs 300 crore
Mr Devulapally Prabhakara Rao told DC on Sunday that they intended to make both thermal stations operational within three years, which would come as a big relief for Telangana which is currently having a tough time meeting power demands.
He also said that works on the Manuguru Thermal Station had already started while for the Damaracherla Station, they were awaiting the Union Environmental Ministry’s clearance for the forest land.