Bidding process to rescue stranded power projects worth Rs 60,000 crore has begun with the companies putting in bids to be technically qualified for getting financial support from the government.
As many as 31 power stations languishing because of want of gas, can bid for support from the Power System Development Fund (PSDF) for generating 30 per cent of their installed capacity, called plant load factor, using imported liquefied natural gas (LNG).
The government will provide as much as Rs 3,500 crore in financial support to the power plants this fiscal and another Rs 4,000 crore in the next, official sources have said.
Currently, out of the 24,150 MW of gas-based power plants, 14,305 MW capacity projects are stranded. Another 5,500 MW of gas-based power plants are operating at less than 30 per cent installed capacity.
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