The proposed SPV can run assets which are under stress but are completed and ready to go, said Power Minister RK Singh.
The government has been working to achieve the goals of 24X7 power for all, debt free efficient discoms, clean energy power capacity of 175 GW by 2022 and revival over 40 GW stressed power assets.
The industry has claimed that though the government has said GST would be applied to solar modules at a concessional rate of 5 percent, there is still no clarity on whether it will be extended to other equipment as well.
Power minister Piyush Goyal said the government has set a deadline of August 15, 2022 for electrification of all households in the country and May 2018 for the electrification of all villages.
The minister stressed that the economies of scale like in the case of LED bulb distribution programme, would help the nation to adopt better technologies at competitive rates without any subsidy.
Bad loans in the power sector continue to weigh on India's banks, and the government has been looking for ways to help ease the pain for companies struggling to service their debts.
The government's aim is to ensure power at Rs 3 per unit irrespective of source in the medium term, Power Minister Piyush Goyal said at the annual session of the Confederation of Indian Industry (CII).
The total power generation capacity of the 16 projects is 5,163 MW and the anticipated completion cost of these projects would be Rs 52,306 crore while their original cost was Rs 27,027 crore, he said.
Earlier in 2015, Modi had announced in his independence day speech that all unelectrified villages (18,452) will be electrified in next 1,000 days i.e. 1 May, 2018.
The government is considering "several ideas" to reduce the cost of power generation from hydel sources, including the possibility of gradual escalation of tariffs.
"It is time that human beings understood that climate change is a challenge caused by humans only and ultimately it is humans who can address it," Goyal said while addressing the World Conference on Environment 2017 here in a statement.
The interest cost of the states part of the UDAY scheme has come down by around Rs 11,989 crore for April-December of 2016-17 over the year-ago period.
"Out of 44 HEPs (hydro electric projects above 25 MW) under construction presently, 20 HEPs totalling 6,329 MW are stalled/stressed and an amount of Rs 30,147.08 crore has already been spent on these HEPs," Power Minister Piyush Goyal said in a written reply to Lok Sabha.
To reduce imports, India will wash certain grades of coal to make available 20 million tonnes of coking coal in the next 3-4 years mainly for domestic steel industry's, Power Minister Piyush Goyal said today.
"The discussions are on to increase the deadline. I think it should be extended (beyond December 2017) because it should be done in a way so that the poor should not be affected," the minister added.
As of today India is fastest growing (major) economy and the country will continue that, Goyal said in a TV programme 'Budget Aaj Tak'.
India is poised for huge growth in solar energy and it won't stop at the 100GW solar power target to be achieved by 2022, Power Minister Piyush Goyal has said.
Tamil Nadu will become the 21st state to join UDAY scheme meant for revival of debt stressed discoms on Monday, paving the way for covering almost 90 percent of total utilities' debt of around Rs 4 lakh crore.
Telangana and Assam are slated to join the UDAY scheme meant for revival of loss making discoms tomorrow, which will result in overall net benefits of Rs 6116 crore and Rs 1,663 crore to them respectively.
The government is working with banks and international companies to ramp up point-of-sale (PoS) machines for cash transactions, Union Minister Piyush Goyal said today.
Earlier last year, the government had launched gas subsidy scheme under the Power System Development Fund (PSDF) to run stranded gas-based power plants is the country.
Power Minister Piyush Goyal said the expansion of retail outlets network by oil marketing companies (OMCs) throughout the country is a continuous process to ensure adequate availability of motoring fuels like petrol and diesel in thye upcoming urban as well as rural areas.
"Capital in India is scarce and it is expensive. In this situation it is very essential that policy makers and designers work to indigenize solutions, which are relevant to Indian situation," Goyal said addressing an international conference on Energy Efficient Building Design.
Speaking to CNBC-TV18 from the sidelines of Pune Inc Conclave Power Minister Piyush Goyal said demonetisation has huge advantages. It will take India to digital banking and make it a cashless society.
Today, India has the third largest reserves of coal in the world. But the [Indian] coal cannot be used by the most power plants in the country.