The Centre has exerted pressure on state governments to expedite financial closure of 12 independent power projects (IPPs), which have a reasonable chance of tying-up funds over the next one year.
In a stock-taking meeting on the progress of private sector power projects in the country, the Crisis Resolution Group (CRG) on IPPs today directed states to assist in expediting financial closure of projects by extending escrow cover and providing other sops.
With six of these IPPs coming up in the state of Andhra Pradesh, the CRG reviewed the business plan forwarded by the state government to financial institutions for providing a greater degree of comfort to these projects.
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