REC, PFC to finance SJVN Thermal Pvt. Ltd for setting up 1320 MW thermal power plant

REC Limited and Power Finance Corporation Limited (PFC) – Maharatna CPSEs under the ministry of power have signed a memorandum of loan agreement with SJVN Thermal Private Ltd (STPL) for financing 2×660 MW coal based Buxar Thermal Power Plant (BTPP) for Rs 8,520.92 crore.

According to the statement, the total estimated project cost is Rs 12,172.74 crore with debt requirement of Rs 8,520.92 crore. As per the agreement, the debt requirement shall be financed by REC and PFC.

SJVN Thermal Private Limited is a 100 per cent wholly-owned subsidiary of SJVN Ltd, a Mini Ratna category central public sector enterprise under administrative control of the Union power ministry.

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