Chennai: By 2023, Tamil Nadu will be the market leader in power sector and will attain the number one position, Tamil Nadu electricity minister P. Thangamani said on Thursday after signing an MoU with the Rural Electrification Corporation, government of India.
Through MoUs and power augment projects the state over the span of next six years will attract a total investment of Rs 1,00,000 crore in power projects and will make the dreams of former CM Jayalalithaa come true. He also urged the REC to provide financial assistance to the Tangedco as soft loan, so that the power projects in TN are completed at the earliest benefiting public.
From June 2016, scheme for providing 100 units of free power for all domestic consumers has been implemented and TN is now a power surplus state providing round-the- clock power to all categories of consumers.
In order to meet the ever increasing demand of power in the state of Tamil Nadu it has been proposed to augment the own generation capacity to the extent of 13000 MW by next 5 to 8 years. Tangedco has also planned to establish solar plants of 500 MW at Kadaladi to exploit the natural resources available instead of conventional sources.
Similarly, it has been programmed to establish 550 substations, strengthening and improvement of sub-transmission and distribution network for evacuation and supply of uninterrupted power to all categories of consumer, the minister said.
Tangedco had also initiated various efficiency measures such as containing high cost power, replacement of static meters for accurate assessment, removing of all restriction and control measures to both high tension and tow tension consumers.
As a result, Tangedco has started showing a substantial financial improvement in the financial year 2016-17 and has brought down the losses to the level of Rs 3,783 crores from Rs 13,985 crores in financial year 2013-14. However, Tangedco will be able to break even in current financial year 2017-18, Thangamani added.