‘Ready for any kind of probe’: Telangana Transco and Genco CMD Prabhakar Rao

TS Transco chairman says Telangana power utility has been functioning in a transparent manner.

Published: 24th August 2019 10:49 AM  |   Last Updated: 24th August 2019 10:49 AM   |  A+A-

TS Transco and Genco CMD D Prabhakar Rao speaks during a press conference in Hyderabad on Friday.

TS Transco and Genco CMD D Prabhakar Rao speaks during a press conference in Hyderabad on Friday. (Photo | EPS)

By Express News Service

HYDERABAD:  Refuting the allegations levelled by BJP State president K Laxman that corruption took place in power purchase agreements (PPAs), TS Transco and Genco chairman and managing director Devulapalli Prabhakar Rao said that they are ready for a probe into the PPAs either by a sitting judge of the Supreme Court or by the CBI.

“The TS power utility has been functioning in a transparent manner without giving scope for corruption,” Prabhakar Rao told reporters at Vidyut Soudha on Friday. Laxman on Thursday urged the Central government to order a probe by a sitting judge into the corruption in the power utility.  Responding to this, Prabhakar Rao declared: “We are ready for any probe, either by a sitting judge of the Supreme Court or by CBI”.

The CMD said that the NTPC never offered solar power at a cost of `4.30 as alleged by Laxman.  “The NTPC offered power from `4.61 to `5.19 per unit. We signed a PPA for 500 MW and getting power,” TS Transco chairman and managing director (CMD) said. The Transco chairman also refuted the allegations that the TS power utility purchased power paying higher charges from India Bulls. “We never entered into any agreement with India Bulls, as alleged by the respectable person,” Prabhakar Rao said without taking the name of Laxman. 

A+ rating
The capacity of the transmission lines was increased from 14,000 MW to 31,000 MW with an investment of `23,000 crore. “As the TS power utility has the good rating, it could raise the loans,” he said. 
Prabhakar Rao said that the Power Finance Corporation gave A+ rating to the TS Transco in June this year. Without the rating how the loans would be given to the Discoms, he wondered.

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