In a bid to expedite the private sector power projects, financial institutions on Tuesday resolved not to press for government guarantees, a move that could help capacity addition to the tune of 8,000-10,000 MW, covering projects including those of BPL, Torrent and Jindal group.

The high powered meeting of all the stakeholders called by the power ministry decided that funding agencies would not seek such guarantees, besides escrow cover, as long as developers were credible and the tariff reasonable, power secretary R V Shahi said in New Delhi.

It was also decided to identify projects whose financial closure could be achieved within eight weeks, Shahi said.

Besides this, projects whose financial closure could be achieved within next eight weeks will also be identified, he said, adding that this would be cover projects to the tune of some 8,000 MW.

The meeting, chaired by Shahi, was attended by the economic advisor to Prime Minister S Narayan, State Bank of India Chairman A K Purwar, Power Finance Corporation Chairman A A Khan, secretaries of various energy departments from respective states and project promoters.

Some 23 projects had been identified for Tuesday's exercise with a potential to generate around 8,000 MW.

The deliberations covered several projects promoted by independent developers, including the Torrent group's 1,000 MW project in Gujarat, the Jindals' 500 MW thermal station in Chhattisgarh and the GVK group's project in Andhra Pradesh.