REC and PFC ink MoA with STPL for financing Buxar thermal power plant

REC Limited and Power Finance Corporation Limited (PFC) have signed a memorandum of loan agreement with SJVN Thermal Private Limited (STPL) for financing 2×660 MW coal based Buxar thermal power plant (TPP).

The total estimated project cost is Rs 121.73 billion with debt requirement of Rs 85.21 billion. As per the MoA, the debt requirement will be financed by REC and PFC. STPL is currently executing 2×660 MW coal based Buxar TPP which is a green field project designed on supercritical technology with the objective to improve the reliability of India’s eastern electricity region and providing power to the state of Bihar.

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