SJVN Thermal inks `8,520 cr loan pact with PFC and REC for power project in Buxar

SHIMLA: SJVN Thermal Pvt Ltd, a subsidiary of State owned SJVN Limited, on Wednesday signed a Rs 8,520.92 crore loan agreement for the debt component of its 1320 MW Buxar Thermal Power project coming up in Chausa, Buxar district of Bihar. The loan agreement was signed in New Delhi in the presence of Nand Lal Sharma, CMD, SJVN Ltd. and Ravinder Singh Dhillon, CMD, PFC. The loan agreement amongst SJVN Thermal Pvt Ltd (STPL), PFC & REC is for funding the debt part of the project signed at a interest rate of 8.60 per cent. On the occasion Geeta Kapur, Director (Personnel), AK Singh, Director (Fin.), Sushil Sharma, Director (Electrical), SJVN Ltd., and Ajay Choudhary, Director (Fin), REC, Vijay Kumar Singh, Director (T), REC, Parminder Chopra, Director (Fin.), PFC, Rajiv Ranjan Jha, Director (P), PFC Manoj Sharma, Director (C) PFC and Manoj Kumar, CFO, STPL were also present.

On this occasion, Nand Lal Sharma, highlighted the need of power for overall development of the nation and contribution of SJVN in this regard. He said that with an installed capacity of 2016.5 MW and an ambitious plan to add 50000 MW to its portfolio by 2040, SJVN has emerged as a major power player in the country. With the commissioning of 1320 MW Buxar Thermal Power project in June 2023, power deficit of Bihar, he said, will be met to a large extent and bring about a remarkable improvement in socio-economic status of the people of the State.

Initially a MoU for financing the term loan for BTPP had been signed amongst SJVN, PFC & REC on November 26, 2020 but the agreement was not signed owing to then prevailing higher rate of interest.