Govt puts 22 stalled power projects on watch list

These projects promoted by GVK, Lanco, Essar, Tata Power and GMR among others came up for discussions in a meeting

The government has identified 22 stalled power projects promoted by GVK, Lanco, Essar, Tata Power and GMR, among others, for addressing various hurdles in project execution.  

These projects had come up for discussions during a series of meetings chaired by Power Minister Piyush Goyal and steered by the Department of Financial Services (DFS) under the finance ministry.

Private project developers made presentations on the projects selected by the government, to discuss the problems faced by them in execution, said an official. Of the 22 projects, 17 are coal-based, three are gas-based and two are hydro projects.

The criteria of selection was not disclosed but priority was given to those facing fuel supply crunch and having mounting debt.

The meeting was attended by secretaries of DFS, coal, power, renewable energy, petroleum and natural gas. Also present were the officials from the Prime Minister’s Office, Power Grid Corporation of India, Central Electricity Authority and Power Systems Operation Company.

Representatives from the State Bank of India, Rural Electrification Corporation and other financing agencies were also present. Making separate presentations, some 18 projects complained about fuel supply, while 15 projects said they were grappling with banking issues. With power demand subdued, 12 projects mentioned off-take as a concern and the same number of projects were facing cost overrun.