Government formulating fresh scheme to revive stressed power assets

The Ministry of Power is formulating a scheme to revive 34 stressed thermal powerplants with a total capacity of 40,000 MW by inviting competitive bids from them to supply power to state utilities for five years at a cheaper cost. These projects have an aggregate debt of Rs 1.77 trillion and the move will allow stranded plants to start operations and repay the due debt through medium-term contracts.