PFC Consortium to Lend Rs 11,067 Cr for Neyveli Uttar Pradesh Project

PFC Consortium to Lend Rs 11,067 Cr for Neyveli Uttar Pradesh Project

Power Finance Corporation Ltd (PFC) in consortium with Rural Electrification Corporation (REC) and State Bank of India (SBI) will provide ₹ 11,067-crore financial assistance to Neyveli Uttar Pradesh Power Ltd (NUPPL).

A PFC statement said that the consortium has bagged the Letter of Award (LoA) after an e-tendering process to fund for the 3×660 MW (1980 MW) coal-based thermal power station. The project is being executed by NUPPL in Ghatampur tehsil, Kanpur Nagar, Uttar Pradesh.

NUPPL is a joint venture company of NLC India Ltd (NLC) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) for supply of power to Uttar Pradesh. With a proposed capacity of 3×660 MW, Ghatampur coal-based thermal power station is being developed at an estimated project cost of ₹ 17,237.80 crore to be funded in debt-equity ratio of 70:30. Read More…

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