Maharashtra has joined the Ujwal DISCOM (distribution company) Assurance Yojana (UDAY), becoming the 17th state to do so. The state is estimated to achieve a net benefit of Rs.97.25 billion (~$1.45 billion). Under the UDAY program, the combined DISCOM debt that will be restructured with respect to these states and union territories is around Rs.2.57 trillion (~$38.55 billion).
According to a government release, the Government of India signed a memorandum of understanding (MoU) with the Government of Maharashtra and Maharashtra State Electricity Distribution Company (MSEDCL) under the UDAY program at the State Power Ministers Conference held in Vadodara on October 7, 2016.
With Maharashtra’s inclusion in the UDAY program, these 17 states and union territories account for 68 percent of the total debt to be restructured through the program.
Two important solar states, Tamil Nadu and Telangana, are still missing from the list.
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.
