Power Ministry close to resolve stressed power projects : Piyush Goyal

Union Power Minister Piyush Goyal on Monday said that the government is close to resolving bad loans made in the power industry mainly by some of the thermal and hydro power projects.

"We are close to the resolution of stressed power projects soon where developers are not wilful defaulters," Goyal told reporters here while highlighting the achievements of his ministry for the past three years.

The Power Ministry is also working with banks and state governments to revive the stalled the projects so that it can generate the electricity as well as jobs, he said adding that the government has been holding meetings with power companies as well as banks.

According to sources, the ministry has firmed up a policy for stalled hydro projects to revive 11,639 MW by dispensing Rs 16,709 crore till 2024-25.

Apart from this, the government has decided to provide interest subvention of about 4 per cent to developers to turn around hydro projects.

The Minister also said that the Niti Aayog is working on new security policy for next 25 years.