Latest mega nods for energy sector will help boost growth: Govt

The government today said it has cleared proposals running into thousands of crore for the energy sector which will help ramp up fresh investments and boost investor sentiment.

This includes project proposals of Rs 33,000 crore in power and Rs 14,700 crore in the petroleum sector apart from working out a mechanism to soothe coal availability for power projects commissioned post 2009.

The clearances were accorded earlier this month by the Union cabinet earlier this month and have been summed up again by the Prime Minister's Office (PMO) today.

A high level committee has been to work out details of power projects where Power Purchase Agreements (PPAs) have been signed, tapering linkages have been granted but lacking coal supply, the PMO said in a statement issued today.

The Cabinet Committee on Economic Affairs (CCEA) had, in a meeting on 22 April, decided against implementation of coal price pooling proposal.

The committee had, however said coal supply for projects commissioned pre-2009 will continue as before and those commissioned post-2009 will be supplied fuel by Coal India partly through domestic linkages and partly through importing coal on cost-plus basis.

The CCI had also cleared 33 power projects with cumulative investments of over Rs 33,000 crore. This included power generator NTPC Ltd's North Karanpura project in Jharkhand and a few hydro projects.

The panel had also cleared 25 New Exploration and Licensing Policy (NELP) blocks freeing up investment of Rs 14,700 crore in oil blocks and another Rs 10,360 crore in exploration works over the next five years.