Tngec project ₹ 250 million rupees, negotiate lower interest rates and manages renewable energy initiatives in Tamil Nadu. | Photo credit: Jothi Ramalingam B
Tamil Nadu Green Energy Corporation Ltd (Tngec) has projected a surplus of approximately ₹ 250 million rupees for fiscal year 2015.
The income, estimated at around ₹ 1.7 billion rupees, are generated mainly from the sale of hydroelectric energy to Tamil Nadu Power Distribution Corporation Limited (TNPDCL), along with my various collected in the Furmer Latar.
The state company assured its share capital, loans and assets through a transfer scheme. After counting operating costs, including employee salaries, interest on debt and maintenance expenses, the company expects to publish a surplus.
In the Financing Front, the Government of Tamil Nadu provided capital social capital assistance of ₹ 29 million rupees for the rehabilitation and improvement project of the dam (DRIP) in fiscal year 2023-24, and an additional ₹ 9.55 million rupees for fiscal year 2024-25.
To a key cost of cost reduction, Tngecl successfully negotiated lower interest rates with its lenders. Tamil Nadu Power Finance Corporation (TNPFC), one of its main financiers, reduced its short -term loan rate in 0.85 percent and a long -term rate in 0.60 percent. This is expected to save Tngecl approximately ₹ 33 million rupees annually. Recognizing the timely Tngecl debt service, TNPFC also extended a rapid payment reimbursement of ₹ 105.65 million rupees in fiscal year 2023-24 and ₹ 41.50 million rupees in fiscal year 2024-25, according to the note.
In addition to clarifying its existing portfolio, Tngec will continue to act as project manager for several upcoming renewable energy initiatives. These include tenders for pumping storage, small hydroelectric, battery storage, as well as current solar and wind projects. This role is expected to grant facilitation positions, contributing even more to the sources of income of the Corporation.
To strengthen it is present in the renewable energy market, Tngecl is also looking for a regulatory commercial license.
As part of the broader drain process, the Tamil Nadu government restructured its electricity sector to improve operational and administrative efficiency and promote renewable energy. The Tamil Nadu (Tangedco) generation corporation was reorganized in two separate entities: Tamil Nadu Power Generation Corporation LTD (TNPGCL) and Tamil Nadu Power Distribution Corporation LTD (TNPDCL). In addition, Tngecl, established to supervise and manage the renewable energy initiatives of the State, was.
Posted on April 24, 2025
