PSU NEWS
SJVN implemented the financial closure for the 1320 MW Buxar Thermal Power Project
The total debt tied up with Public Sector Undertakings Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) is Rs. 8520.92 Crores which shall be funded equally i.e. Rs. 4260.46 Crores each by both the PSUs.
New Delhi: The financial closure for the 1320 MW Buxar Thermal Power Project being implemented by SJVN Limited through its subsidiary company SJVN Thermal Private Limited was achieved today. The total debt tied up with Public Sector Undertakings Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) is Rs. 8520.92 Crores which shall be funded equally i.e. Rs. 4260.46 Crores each by both the PSUs.
The Financial Closure agreement was signed in the presence of Sh. Nand Lal Sharma, CMD, SJVN and Sh. R. S. Dhillon, CMD, PFC, by Sh. S. L. Sharma, CFO, STPL, Sh. C.B.S Arunachalam, CGM, PFC, and Sh. Sanjay Kulshrestra, CGM, REC.
The ceremony of Financial Closure was also graced by Sh. A. K. Singh, Director of Finance, SJVN, Director (Commercial), PFC, and Sh. Sanjeev Sood, CEO, STPL. With the Financial Closure, a hundred percent of the debt component for the Project has been tied up.
Sh. Nand Lal Sharma stated that the Buxar Thermal Power Project has been awarded to SJVN for execution by the Bihar Government. Engineering, Procurement, and Construction (EPC) Contract for the Project was awarded to M/s L&T Limited in June 2019, and Project work is going on in full swing.
Sh. Sharma mentioned that the Project is scheduled to be commissioned in June 2023. The Project will generate employment opportunities for the locals, promote infrastructural development, and herald a new era of socio-economic prosperity in the area.
The Project will be an important step towards achieving the Shared Vision of SJVN of becoming 5000 MW Company by 2023, 12000 MW by 2030, and 25000 MW Company by 2040.
SJVN’s present installed capacity is 2016.51 MW and projects of 5674 MW are under various stages of development. SJVN has a presence in various sectors of energy generation which includes Hydro, Wind & Solar. The company also has a presence in the field of Energy Transmission.
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