REC and Power Finance Corporation have entered an agreement to provide Rs 8,520.92 crore finance for setting up a 1,320 MW thermal power plant at Buxar by SJVN Thermal.
REC and Power Finance Corporation (PFC) have signed a memorandum of loan agreement with SJVN Thermal Private (STPL) for financing two x 660 MW coal based Buxar Thermal Power Plant (BTPP).
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.