The Andhra Pradesh government plans to transfer the assets of state power generation companies (gencos) and distribution companies (discoms) to the Andhra Pradesh Power Finance Corp. Ltd (APPFCL) to raise funds that may also help clear its power sector dues, according to two government officials. Andhra Pradesh owes around ₹20,000 crore in unpaid bills to power generators. “Andhra Pradesh power utilities have identified certain freehold properties and expressed their willingness to transfer those assets to AP Power Finance Corporation Ltd at the book value of the assets to strengthen the assets position of APPFCL," said the state government’s order reviewed by Mint. The state’s utilities in the power sector include Andhra Pradesh Transmission Corp. Ltd (Aptransco), Andhra Pradesh Power Generation Corp. Ltd (Apgenco), Andhra Pradesh Southern Power Distribution Co. Ltd (APSPDCL), Eastern Power Distribution Company of Andhra Pradesh Ltd (APEPDCL), and AP Power Development Co. Ltd (APPDCL). In poor financial health, discoms have delayed payments to gencos even as the Centre steps up efforts to supply round-the-clock power to all.

Source: Mint January 16, 2020 01:52 UTC