State-owned REC Ltd and Power Finance Corporation have inked a pact to provide Rs 8,520.92 crore finance for setting up a 1,320 MW thermal power plant at Buxar by SJVN Thermal Private Ltd.
“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),” a company statement said.
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.
