UDAY Scheme

REC Raises 5 Year Loan Of $75 million From SMBC

In a first for any NBFC in India, REC Limited has successfully raised a USD 75 million, 5-year Secured Overnight Financing Rate (“SOFR”) linked Syndicated Term Loan on October 7, 2021, with Sumitomo Mitsui Banking Corporation (SMBC), Singapore Branch appointed as the sole Mandated Lead Arranger and Bookrunner. Along with the loan, REC has also […]

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UDAY Not Failure; New Version Likely in Budget: Power Minister

Ahead of the upcoming Union Budget on Saturday, Power Minister R K Singh said that the UDAY (Ujwal DISCOM Assurance Yojana) scheme was not a failure, however, an improved version of the programme, meant for revival for Discoms and to ensure 24X7 power, maybe announced in Budget. During an event, the Minister said quoted PTI […]

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States That Miss UDAY Targets to Face Fund Cuts: R K Singh

The Centre has proposed a reduction in funds of the states that miss targets set under the 2nd version of UDAY scheme, which is at the draft stage The Centre has proposed a reduction in power sector funds of the states that would not maintain performance benchmarks set under the second version of Ujwal Discom Assurance Yojana […]

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Andhra Pradesh’s New CM Elect is Sold on Renewables, with Conditions

In an Interview to India Today, YS Jaganmohan Reddy, who will be sworn in as the state’s next Chief Minister on May 30, expressed the hope that his regime will be able to use solar in a big way. In a wide ranging interview where he spoke about a host of issues, the incoming CM’s […]

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Indian UTs Signs MoU with the Government of India under the UDAY Scheme

27 States and 4 UTs have joined UDAY, and signed MoU with the Government of India till date. On the 2nd Anniversary of Ujwal DISCOM Assurance Yojana (UDAY), the Government of India signed four Memorandum of Understanding (MoU) under the Scheme with the State of Nagaland and with Union Territories (UTs) of Andaman & Nicobar […]

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West Bengal government denies joining power scheme UDAY

The West Bengal government on Thursday denied joining Center’s power scheme UDAY. Addressing the media state power minister Sobhandeb Chatterjee said that state government has refused to sign any agreement to join the scheme and does not believe or agrees to forcefully propagate center’s scheme reports Millenniumpost. Chatterjee also said “We have assured the Center […]

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Puducherry becomes the first UT to join “UDAY” scheme

The Union Territory of Puducherry joined the UDAY scheme (Ujwal DISCOM Assurance Yojana) signing MoU with the Government of India for operational turnaround of the Union Territory’s Electricity Department. The MoU (Memorandum of Understanding) was signed in presence of the Minister of State for Power, Coal & New and Renewable Energy & Mines Piyush Goyal. […]

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Ministry of Power Raises RPO Trajectory for both Discoms and States

Ministry of Power has raised the Renewable Purchase Obligations (RPO) trajectory for solar power in India. The Renewable Purchase Obligations makes it mandate for both Distribution Companies (Discoms) and states to purchase a certain percentage of their energy from renewable. Distribution Companies in India will now have to purchase 2.75% of their energy mix from […]

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