Himachal Pradesh has joined the Ujwal DISCOM (distribution company) Assurance Yojana (UDAY), becoming the 18th state to do so. The state is estimated to achieve a net benefit of ~Rs.8,230 million (~$122 million). Under the UDAY program, the combined DISCOM debt that will be restructured with respect to these states and union territories is ~Rs.2.57 trillion (~$38.55 billion). With the joining of Himachal Pradesh, in all, 17 states and one union territory have become party to UDAY.
According to a government release, the Government of India signed a memorandum of understanding (MOU) with the Government of Himachal Pradesh and the state DISCOM under the UDAY program on December 8, 2016.
With Himachal Pradesh’s inclusion in the UDAY program, these 18 states and union territories account for ~69 percent of the total debt to be restructured through the program. Two important solar states, Tamil Nadu and Telangana, are yet to join the program.
Wendy is a co-founder of Mercom Capital Group, the parent company of Mercom India. Wendy is a contributing editor at MercomIndia.com and is responsible for content quality across the company and products. She has over 15 years of business and finance experience in the energy and technology markets. In addition to Mercom, Wendy has written for many other clean energy-focused blogs and publications. More articles from Wendy Prabhu.