MoP - Ministry of Power

136
Bengal, Uttaranchal, Uttar Pradesh, Karnataka, Rajasthan,
Nagaland, Bihar, Assam, Andhra Pradesh, Haryana,
Orissa, Gujarat, Chhattisgarh and Madhya Pradesh. The
state-wise details are enclosed at Annexure – II.
5.3 Anticipated targets to be achieved during the
remaining period of the year i.e. upto 31st March 2008
MOP intends to sanction all the eligible projects in the
participating 27 states of the country by end of March 2008
of which projects for 234 districts (235 projects) are already
under implementation.
6. TRANSMISSION & DISTRIBUTION (T&D)
6.1 Sanctions - Progress made during the period
April 2007 to November 2007 and anticipated targets
to be achieved by March 2008.
During the period between April 2007 - November 2007,
the Corporation, under its regular activities, has sanctioned
350 projects involving a loan assistance of Rs.12528 crore
under T&D, which includes 22 projects sanctioned for
counterpart funding of Rs.206 crore under APDRP.
It is anticipated that during 2007-08 a total sanction of about
Rs.15000 crores will be achieved under T&D projects by
31 st March 2008.
6.2 Disbursement - Progress made during the period
April 2007 to November 2007 and anticipated targets
to be achieved by March 2008.
The Power Utilities/entities have, for the FY 2007-08, drawn
a loan amount of Rs.3641 crore up to 30.11.2007, for
transmission and distribution system strengthening,
purchase of equipment, intensive electrification of already
electrified areas, and energisation of pumpsets.
It is anticipated that during 2007-08, a total disbursement
of about Rs.6500 crores will be achieved under T&D
projects by 31 st March 2008.
6.3. North Eastern States
A provision of Rs.15 crores has been made for the North
eastern states including Sikkim, for their intensive
electrification and system improvement works, based on
the programme indicated by them, for the year 2007-08,
which is expected to be disbursed.
7. GENERATION
7.1. Progress made during current year upto
30.11.2007
For the financial year 2007-08 (Upto 30.11.2007), REC has
sanctioned term loan amounting to Rs.23374.28 crore as
per details enclosed at Annexure-III. During this period,
disbursement of Rs.2229.96 crore has been made against
the on-going generation projects.
7.2. Anticipated targets to be achieved during the
remaining period of the year i.e. upto 31.3.2008.
Anticipated disbursement for the remaining
period of the Financial Year during 2007-08 is
Rs.3500 crore.
8. MOBILISATION OF FUNDS
8.1 The total borrowing programme of the Corporation
for the year 2007-08 is Rs.14000 crores. The amount
mobilized by REC during the year 2007-08 (upto 30 th
November, 2007) was Rs.3729.40 crore which included
Rs.2046.30 crore by way of Capital Gains Bonds, Rs.883.1
crore REC Bonds, and Rs.800 crore by way of Term Loan
from Banks. The balance amount of Rs.11270.60 crore is
proposed to be raised during the period from December,
2007 to March, 2008.
8.2 Pre-payment of high cost Bonds
During the year 2007-08 (upto 30.11.2007), REC has so
far redeemed an amount of Rs.1936.02 crores, which
includes redemption / exercised call option of Rs.1684.24
crore in respect of REC Bonds, and Rs.245 crores as Terms
Loans from Bank, Rs.6.78 crores as loans from Govt. of
India, as a part of the process of pre-paying higher cost of
borrowings with cheaper funds raised from the market.
9. INTERNATIONAL COOPERATION AND
DEVELOPEMENT
9.1. Japan Bank for International Cooperation (JBIC)
An official Development Assistance (ODA) of about 21 billion
yen (app. Rs.735 crores) has been negotiated with JBIC
for Transmission System Project of Haryana Vidyut
Prasaran Nigam Ltd (HVPNL). The loan agreement in this
regard is expected to be signed in March 2008 between
REC and JBIC. The objective of the project is to achieve
stability in power supply and to meet the fast growing load
demand by strengthening intra-state transmission systems
in the State of Haryana.
The Rural Electricity Distribution Backbone project
sanctioned in 2006-07 under JBIC’s official Development
Assistance of 21 billion yen in the states of Andhra Pradesh.
Madhya Pradesh and Maharashtra are at various stages of
implementation and REC has commenced drawl of funds
from JBIC. The project is scheduled for timely completion.
9.2. Indo German Bilateral Cooperation (KfW)
KfW has committed Euro 70 million (app. Rs.405 crore)
loan assistance along with 500,000 Euro (app. Rs.2.8 crore)
grant component for REC’s Energy Efficiency
Programme–II for implementation of HVDS projects. The
objective of the project is to promote energy efficiency by
reduction in distribution losses, reduction in failures in
electricity distribution and to provide higher quality of
services to predominantly agricultural consumers.
The implementation of HVDS project sanctioned to
APSPDCL in 2006-07 under KfW-REC’s Energy Efficiency
Programme-I for financial assistance of Euro 70 million is
in full swing and REC has commenced drawl of funds from
KfW. The project is scheduled for timely completion.
9.3. Clean Development Mechanism (CDM)
REC has signed a consulting contract agreement with Price
Waterhouse Coopers in the month of January 2007 for