Power, renewable energy PSUs to contribute Rs 925 cr to PM CARES fund

Central PSUs under the power ministry and the new and renewable energy ministry would contribute Rs 925 crore to the fight against COVID-19 pandemic, an official release said on Friday.

The Central Public Sector Enterprises ( CPSEs) under the Ministry of Power and the Ministry of New & Renewable Energy have decided to contribute Rs. 925 Crore to ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund)’, a power ministry statement said.

“We feel honoured to share that the Public Sector Undertakings of the Ministry of Power & MNRE have decided to contribute INR 925 Cr to the PM- CARES fund with INR 445Cr being deposited on 31st March and remaining in the first week of April,” Union Minister of Power and New & Renewable Energy R K Singh tweeted.

The amount of Rs 925 crore includes a contribution of Rs 905 crore from PSUs under the Ministry of Power and contribution of Rs 20 crore from PSUs under MNRE.

"COVID-19, a highly contagious disease has spread to almost the entire world. In India too the pandemic is posing a severe health hazard, which requires the entire nation to stand together," Singh said.

He complimented all those who are contributing wholeheartedly to the PM Cares Fund responding to the appeal of the Prime Minister Narendra Modi.

Among the PSUs, NTPC will contribute Rs 250 crore followed by Power Finance Corporation and Power Grid at Rs 200 crore each.

The REC will contribute Rs 150 crore while NHPC will provide Rs 50 crore.