Power Finance Corporation Limited (PFC) along with REC Limited (REC) have signed a memorandum of understanding (MoU) with SJVN Thermal Private Limited (STPL) for extending a term loan of Rs 85.2 billion for the 2×660 MW Buxar Thermal Power Project.
The Buxar thermal power project is expected to be commissioned in 2023-24 and generate approximately 9,828 MUs of energy to meet the future power requirement of Bihar and other states. STPL is a wholly-owned subsidiary of SJVN and executing the project. PFC has a long-standing relationship with SJVN and funding of this upcoming thermal project will further strengthen the relationship between these two entities.