REC and Power Finance Corporation (PFC) - CPSEs under the Ministry of Power - have signed a memorandum of loan agreement with SJVN Thermal (STPL) for financing 2x660 MW coal based Buxar Thermal Power Plant (BTPP).
STPL is a 100% wholly owned subsidiary of SJVN (Mini Ratna CPSE under administrative control of Ministry of Power, Govt. of India).
STPL is currently executing 2x660 MW coal based Buxar Thermal Power Plant (BTPP) 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.
The total estimated Project Cost is Rs 12,172.74 crore with debt requirement of Rs 8520.92 crore. As per the MoA, the debt requirement shall be financed by REC & PFC.
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