PFC, REC extend financial assistance of Rs 8,520 cr to STPL’s Buxar thermal project

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The 2x660 MW Thermal project is expected to be commissioned in FY 2023-24

Power Finance Corporation (PFC), India's leading NBFC focused on the power sector and a PSU under Ministry of Power, along with REC executed Memorandum of Understanding (MoU) with SJVN Thermal (STPL) for extending term loan of Rs 8,520.46 crore for 2x660 MW Buxar thermal power project on Wednesday.

STPL is a wholly owned subsidiary of SJVN Limited and executing the project. The 2x660 MW Thermal project is expected to be commissioned in FY 2023-24 and generate approximately 9,828 million units of energy to meet the future power requirement of Bihar and other states, said the Power Ministry.

The MoU was signed in the presence of Ravinder Singh Dhillon, CMD, PFC, PK Singh, Director (Commercial) and additional charge Director (Projects), PFC, NL Sharma, CMD, SJVN, AK Singh, Director (Finance), SJVN.

PFC has a long standing relationship with SJVN and funding of this upcoming thermal project will further strengthen the relationship between these two entities.

Image credit: Financial Express

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