TN industries body objects to wind power banking
Addressing the press in Chennai on Thursday, S Gandhi of Power Engineers Society of Tamil Nadu said that the Electricity Minister has announced 12-month banking to windmill operators.
CHENNAI: Power Engineers Society of Tamil Nadu and Federation of Coimbatore Industries Association oppose the state’s move to permit banking of energy generated by windmills. They said it would favour private windmill operators only.
Addressing the press in Chennai on Thursday, S Gandhi of Power Engineers Society of Tamil Nadu said that the Electricity Minister has announced 12-month banking to windmill operators. But, the Minister did not explain whether the banking system generates new employment or investments or additional power generation.
“Banking will help private wind energy generators to loot Tangedco’s funds. In 2018, the Tangedco informed the TNERC that it had incurred a loss of Rs 1,905 crore due to the banking. This loss might be higher now,” he said.
“Banking will help the private companies to benefit. The government should drop the proposal to safeguard the interest of the public as well as the Tangedco,” he urged.
Gandhi said, “The micro industries have lost Rs 145 crore in 3 years due to tariff hike. Tangedco and TNERC are suppressing MSMEs, but trying to implement banking system.”