Additional corpus of Rs 5 bn for solar plants
A corpus of about Rs 500 crore that would work as an additional security for solar power developers seeking loans is on the anvil. This fund, to be managed by NTPC Vidyut Vyapar Nigam (NVVN), is aimed at removing apprehensions of the lenders on payment security.
In-principle approvals have already been obtained, now a formal approval for the fund is expected shortly. A senior NVVN official said the fund would be used in case of defaults by Discoms (power distribution companies) in payment to NVVN.