K D Chaudhrim, PSPCL chairman cum managing director, said the agreements have been signed for the supply of 20 Mw power from each plant to PSPCL for a period of 20 years.
M/s Rana Sugars have set up plant in Amritsar District at a cost of Rs 100 crores and A B Sugars have set up plant in Hoshiarpur at cost of Rs 100 crores.He said that the agreements are for long term basis and help entrepreneurs invest more in producing green energy in Punjab.
He added that on one hand the agriculture waste will be purchased by producers of green energy and help farmers financially. On the other hand it will help in reducing gap between demand and supply of power in Punjab.
The contract has been put on hold and further payments have been stopped
Govt expects to achieve fiscal deficit target of 4.1% of GDP for FY16