Telangana Power Plant receives massive funding!

Yadadri thermal power plant planned in Nalgonda district of Telangana had received a shot in its arm after Rural Electrification Corporation (REC) has sanctioned Rs 16,070 crore loan. REC chairman and managing director Rajeev Sharma handed over the cheque to chief minister K Chandrasekhar Rao on Tuesday.

The Thermal Plant is coming up at Damacharla in Nalgonda district and it is planned at an installed capacity of 4400 MW which is very prominent in KCR’s plans of making Telangana a power surplus state.

REC few months ago, also extended loan of Rs 4,321 crore for construction of 800 MW power plant in Palvoncha in Khammam district. With this REC had lent a loan of 20391 Crore to the newest state of the country. REC had given the loan at 11% with a reduced interest rate of 0.5. Usually REC would give loans with an interest of 11.5 per cent for the construction of power plants.