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Uttar Pradesh State cabinet clears financial restructuring of power corp

According to reports, the UP cabinet on Wednesday approved new sugar policy and restructuring of financial model for purchase of power. The new sugar policy paves way for opening of more mills in the state by the private sector. Following are the highlights of the major decisions:

Financial restructuring of UPPCL: The cabinet cleared the restructuring of power distribution companies as per the proposal of the Central government. The cabinet approved the financial restructuring plan and sent it to the Centre for its nod. The government has formed a panel under the chairmanship of principal secretary (finance). The energy secretrary and UPPCL managing director will be among the members of this panel. Besides, a state-level monitoring panel will be formed under the chairmanship of the chief secretary.

Solar Power Policy: The Solar Power Policy 2013 will be in place till 2017 under which a minimum of 5 MW capacity to produce a total of 500 MW power supply will be established and their targets would be fixed by Uttar Pradesh Non-conventional Energy Development Agency ( UPNEDA) which has been designated as the nodal agency for the project.

Sugar industry co generation: The policy will be applicable over 14 select districts of the state including Deoria, Mau, Azamgarh, Jaunpur, Amethi, Rae Bareilly, Badaun, Ghazipur, Balia, Gorakhpur, Sidhartnagar, Etah, Etawah, Kannauj, Mainpuri, Farrukhabad, Ferozabad, Banda, Chitrakoot, Hamirpur, Mahiba Jhansi Jalaun and Lalitpur. The government would encourage establishing new sugar mills in these districts with a rider that the co-generation and distillery units can be set up anywhere in the state. The government will also allow a series of concessions including 5 per cut on loan, purchase of sugarcane and likes.

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