PFC clears pending dues of Andhra Pradesh discoms

Power Finance Corporation (PFC) has directly cleared the pending dues of Andhra Pradesh discoms, of around Rs 6 billion up to March 2020, to various renewable energy developers.

The dues were on account of the Andhra Pradesh government stopping payments to developers following a standoff. Earlier the Andhra Pradesh government had provided the standing guarantee to avail for the loan, which was directly credited by PFC and REC to renewable energy developers under the Atmanirbhar Bharat Abhiyan Scheme.

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