Latest news with #TANGEDCO
Time of India
04-08-2025
- Business
- Time of India
PNB lifts NPA tag from IL&FS Tamil Nadu power project
Mumbai: Punjab National Bank the lead-banker for IL&FS Tamil Nadu Power Company (ITPCL) has upgraded its loan accounts from non-performing asset (NPA) to standard on July 29, 2025 – a move that will enable the lenders to recover nearly Rs 6000 crore of written off loans. ITPCL, a subsidiary of IL&FS Energy, operates a 1,200 MW coal-fired thermal power plant in Cuddalore. Of the Rs 9,587 crore debt as of March 2023, 65% was reclassified as sustainable under a restructuring package, with repayments extended till FY2038. The rest, deemed unsustainable, carries a nominal interest of 0.001% and will be retired through lump-sum payments in FY2039 and FY2040. An IL&FS spokesperson confirmed this. 'The total debt exposure of the 12-member lenders' consortium, along with unsecured lenders, was Rs 9,600 crore, which was fully restructured into sustainable and unsustainable the successful restructuring in Sept 2023, ITPCL repaid Rs 3,600 crore, which included about 50% of the sustainable debt and an accelerated repayment of the unsustainable current outstanding debt stands at approximately Rs 6,000 crore,' the spokesperson said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Blood cancer is taking our curious baby away from us! Donate For Health Donate Now Undo The upgrade comes nearly seven years after the IL&FS group defaulted on its debt, sparking panic in financial markets and exposing systemic risks in infrastructure financing. ITPCL was one of several group entities that fell under court-supervised restructuring. The Cuddalore plant's Unit I is backed by a long-term power purchase agreement (PPA) with TANGEDCO (Tamil Nadu Generation and Distribution Corporati till Sept 2028, providing stable revenue. Unit II operates in the merchant market without a PPA and remains vulnerable to tariff volatility. The company saw its plant load factor for Unit II rise from 36% to 70% over two years due to a short-term spike in power prices, though recent tariff declines have raised concerns over future earnings. High generation costs—driven by imported coal and expensive inland logistics—remain a drag. ITPCL has no fuel cost pass-through under the PPA, resulting in an under-recovery of about Rs 0.8/unit in H1 FY25. Relief under Section 11 of the Electricity Act has allowed higher energy cost recovery from TANGEDCO, but this was only until Feb 2025. The company has begun constructing a captive jetty to cut coal transport costs by Rs 0.15–0.30/unit. The Rs 200 crore project is expected to improve competitiveness, but cost pressures remain high. Cash flows have improved after the Centre's Late Payment Surcharge (LPS) scheme enabled recovery of Rs 2,100 crore in TANGEDCO dues, with Rs 540 crore inflow annually till FY26. ITPCL's liquidity stood at Rs 2,100 crore in Nov 2024. ICRA upgraded ITPCL's rating to BB (Stable) in Jan 2025, citing improved liquidity, earnings visibility, and progress under the restructuring plan. However, with total debt to EBITDA at 4.5x and interest cover at 2.2x, financial pressure persists. The upgrade affirms progress in the IL&FS group's recovery, though full resolution remains dependent on regulatory support, fuel costs, and future offtake arrangements. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Hans India
02-08-2025
- Automotive
- Hans India
Chennai corporation to revamp two flyover spaces for parking, pedestrian use
The Greater Chennai Corporation has announced redevelopment projects for two major flyover underpasses in the city — at T. Nagar and Alwarpet — at a combined cost of Rs 7.5 crore. The initiative is part of a broader effort to make better use of idle urban spaces and improve public amenities for residents and commuters. Under the Rs 3.75 crore redevelopment plan for the space beneath the North Usman Road–Mahalingapuram Road junction flyover in T. Nagar, provisions will be made for two-wheeler Electric Vehicle (EV) charging stations, to be set up in coordination with the Tamil Nadu Power Distribution Corporation (TANGEDCO). In addition to EV infrastructure, the site will feature designated parking for two-wheelers, five commercial kiosks to support local businesses, and essential amenities for public use. The civic body will install eight public toilets — three for men, three for women, and two accessible for Persons with Disabilities (PwDs). A Reverse Osmosis (RO) drinking water facility will also be provided to enhance convenience for commuters and pedestrians. An official from the Corporation confirmed that the redevelopment will not affect existing infrastructure, such as the U-turn beneath the flyover, auto-rickshaw stands, or ambulance parking zones. 'We are ensuring that vital transport and emergency service spaces remain intact while enhancing the surrounding area,' the official said. The redesigned space will be landscaped with trees, plant beds, ornamental lighting, and street furniture to create a more pedestrian-friendly environment. Public seating areas and tactile paving will be installed to support accessibility, particularly for the visually impaired. The area will also feature paved flooring and proper stormwater drains to ensure durability and cleanliness. CCTV cameras and signage will be installed to enhance safety and wayfinding. Simultaneously, a similar Rs 3.75 crore redevelopment project will be undertaken beneath the TTK Road–CP Ramaswamy Road flyover in Alwarpet. Although this location will not include EV charging stations, it will offer organised parking for both two-wheelers and four-wheelers, commercial stalls, landscaping, seating arrangements, and decorative lighting. CCTV surveillance and upgraded drainage infrastructure will also be implemented. Separate tenders have been floated for both projects, and work is expected to begin after finalisation of the bids.
The Hindu
27-07-2025
- Climate
- The Hindu
Rains lead to closure of tourist spots in Nilgiris; Avalanche dam sluice gates opened
Despite rains easing off across the Nilgiris, many tourist spots operated by the Forest Department, including Doddabetta Peak, Pine Forest and the Eighth Mile Tree Park were closed to the public for the fourth consecutive day on Sunday (July 27, 2025). The Avalanche dam had also almost reached almost full-capacity, leading officials from TANGEDCO to decide on releasing water through the dam's sluice gates. The Forest Department announced the tourist spots were closed owing to concerns over public safety due to heavy winds. The Nilgiris district administration stated an average of 50.46 mm of rain were recorded across the district between Saturday evening and Sunday morning (July 26 and 27, 2025), with intense rains in Naduvattam, Parsons Valley, Porthimund, Avalanche, Upper Bhavani and moderate to heavy rain in parts of Gudalur and Pandalur. Nilgiris Collector helps unearth hidden milestone in Nilgiris' history The heavy rains had led to trees becoming uprooted along the Udhagamandalam to Gudalur Road, while boulders had also become dislodged and blocked the route to Melkowhatty. The National and State Highways Departments both mobilised men to immediately clear the blockages to traffic and traffic flow was restored soon afterwards. Power outages were also reported across many places in Udhagamandalam, Gudalur and Manjoor towns owing to the rains accompanied by heavy winds. Nilgiris district a hotspot for negative human-gaur interactions in Tamil Nadu: study On Sunday (July 27, 2025), the Nilgiris district administration urged residents in Emerald, Nehru Nagar and other areas downstream of the Avalanche dam to not venture close to rivers and streams fed by the dam waters. The sluice gates of the dam were opened on Sunday morning at around 9.30 a.m. Last weekend, the Pykara Dam had also reached full capacity and its sluice gates were opened. The TANGEDCO officials stated that they continued to monitor the capacities of other dams in the district, including Upper Bhavani to ensure the dam's safety.
New Indian Express
19-07-2025
- Business
- New Indian Express
Udangudi plant will not begin op in September; power production may start next summer
THOOTHUKUDI: Chairman and Managing Director (CMD) of TANGEDCO Dr J Radhakrishnan on Friday said the Udangudi super critical thermal power plant will start power generation in summer next year. The plant, which comprises of two units of 660MW each being constructed at a cost of Rs 13,076 crore. The project was announced in 2012, and work started in 2017. Addressing reporters, after inspecting the progress of work at the thermal plant and Kallamozhi offshore coal jetty, Radhakrishnan said over 90% of the work in Unit 1 has been completed and gave hints that it may not be commissioning in September as was originally planned. 'The work is on at full swing in every level to ensure generation of electricity by the end of this year. The plant will sufficiently contribute to state's power supply during next summer, when demand will be at the peak. Once unit 1 becomes fully operational, unit 2 will be commissioned in the next four months.' The work of installing boilers, turbines, water plant, power house, and conveyors, have been completed, Work in the ash handling sections, certificate for fire fighting have been expedited. During the test trial of unit 1, around 10 glitches were identified and fixed, he said. Radhakrishnan explained that one of the major factors which delayed the project is lack of skilled manpower.
New Indian Express
14-07-2025
- General
- New Indian Express
Villagers' power woes to end as new 110 kV substation to come at Panagudi in Madurai
MADURAI: Heeding to complaints from residents over frequent power outages during the night, the Tamil Nadu Generation and Distribution Corporation Limited (Tangedco) is floating tenders for a new sub-station at Panagudi near Koodal Nagar in Madurai a cost of Rs 13.96 crore. The sub-station can streamline supply in urban areas, including Paravai, Vilangudi and Koodal Nagar. Sources said that high load consumption could be the primary reason for power outages caused by the breakage of fuses or conductors. Only when a new substation is constructed can the issue be resolved permanently, they added. Marirajan, a resident of Vilangudi, said, "There have been frequent power outage in the area for the last few weeks, and officials usually respond within an hour. Many elderly people living in the area are affected the most." Rajalakshmi, a resident of Koodal Nagar, said, "For the past six months, we have been facing extreme power disruption. Only when we complain does it get resolved, but the issue resurfaces again. We also found that there are problems with the transformers, power lines, and fuse lines, and we have raised the issue at the TANGEDCO office too. They refuse to give a proper response to the issue." When enquired, a top official from Tangedco (Madurai) told TNIE, "We have identified a two-acre land in Panagudi. The large substation would have a power capacity of around 110 KV. There are two feeder lines in the zone- one from Anaiyur substation and another from Boothakudi substation. The proposal has been accepted and the inner layout of the substation is also finalised at a cost of Rs 13.96 crore. The tender will be released within a few days, and we will soon begin the construction. The work could be completed within six months."
