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Ushdev Gets First Payout of 70 Million Rupees Owed by Tamil Nadu

Panchabuta has earlier mentioned that the Tamil Nadu Electricity Board (TNEB) has not paid for the power purchased from the wind farm developers in the last eight months. The arrears are now a whopping Rs 1200 crore.

In the middle of May this year, the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) had assured the windmill owners in the State that the pending dues for August, 2010 – September, 2010 for the wind energy supplied to the grid would be paid by the end of last month.

Subsequently, the Indian Wind Power Association has written to the Prime Minister seeking relief for outstanding payments worth Rs 1,200 crore from Tamil Nadu State Electricity Board (TNEB).

Last month, Tamil Nadu Generation and Distribution Corporation (TANGEDCO) said they start making payment to the Indian Wind Power Association (IWPA) towards dues of about Rs 1200 crore for supply of electricity since August last year.

According to reports, Ushdev International Ltd. (UTF), a wind- farm owner and India’s third-largest non-state metal trader, received part of the 70 million rupees ($1.6 million) it’s owed by Tamil Nadu for power sold since last year.

State-run utility Tamil Nadu Generation & Distribution Corp. paid 15 million rupees to Ushdev Power Holdings Pvt. on July 1 for wind power supplied in September 2010, Arvind Prasad, managing director of Ushdev’s wind power unit, said by telephone today from Mumbai. Ushdev supplies 14 megawatts to the state utility.

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