48 new power projects approach banks for Rs. 1.5-lakh cr funding

The power sector leads the race in seeking bank loans for new projects with investment proposals of over Rs. 1.50 lakh crore. This despite the sector facing problems of stranded assets and fuel supply constraints.

Across 20 sectors, including power and real estate, banks have received proposals for 194 new projects between January 1 and September 30 with an investment of over Rs. 4.68 lakh crore. Each of these projects entailed an investment of Rs. 250 crore or more, according to data collected by the Finance Ministry.

Though the power sector is behind commercial real estate in terms of number of projects, the size of investments in higher. The projects include generation, transmission and distribution, and new and renewable energy.

Sesa Sterlite leads the pack with plans for a Rs. 16,000-crore project in Odisha. The proposal is with Syndicate Bank, which has already sanctioned and disbursedRs. 1,525 crore. This is followed by Teesta Urja in Sikkim with an investment of Rs. 11,382 crore, Talwandi Sabo Power in Punjab (Rs. 11,040 crore), Bhushan Power and Steel in Odisha (Rs. 9,765 crore) and East Coast Energy in Andhra Pradesh (Rs. 9,343 crore).


HBL