Lanco Energy has achieved financial
closure for its 500 MW (4x125) Teesta VI hydel power project in Sikkim.
The Rs.3,000 crore project will be
financed with a debt of Rs.2,400 crore and equity of Rs.600 crore. A consortium
of nine banks and financial institutions, led by ICICI Bank, will take care of
the debt component.
Lanco Infratech will have a 74 per
cent stake in the project with the Sikkim government holding the remaining
stake.
The construction and EPC (engineering,
procurement and commissioning) contract amounting to Rs.2,340 crore for the
project has been awarded to LITL.
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