Power Finance Corporation Ltd. (PFC) along with REC Ltd. (REC) executed Memorandum of Agreement (MoA) with SJVN Thermal (P) Ltd. (STPL) for Extending Term Loan of Rs. 8520.92 Crore for2x660 MW Buxar Thermal Power Project on 18th October 2022 at New Delhi.
STPL is a wholly owned subsidiary of SJVN Limited and executing the project.The 2×660 MW Thermal project is expected to be commissioned by FY 2026-27 and generate approximately 9828 Million Units of energy to meet the future power requirement of Bihar and other States.
The MoA was signed in the presence of Shri Ravinder Singh Dhillon, CMD, PFC, Shri N. L. Sharma, CMD, SJVN, Smt. Parminder Chopra, Director (Finance), PFC, Shri Rajiv Ranjan Jha, Director (Projects), Shri Manoj Sharma, Director (Commercial), PFC, Shri A. K Singh, Director (Finance), SJVN, Smt. Geeta Kapur, Director (Personnel), Shri Ajoy Choudhury Director (Finance), REC. Among others present were Shri Manoj Kumar CEO, STPL,and Shri Manoj Kumar CFO of STPL, Shri Nitin Kumar GM & HoU (CSP), PFC, and senior officers of PFC, REC and SJVN.
Speaking on the occasion, CMD PFC, Shri Ravinder Singh Dhillon stated that the project would generate employment opportunity for the locals, will promote infrastructure development and herald a new era of socio economic prosperity in Bihar. These power project are driven by partnership of PSU which falls under larger ambit of Ministry of Power. He also reiterated that funding of this upcoming thermal project will further strengthen the relationship between PFC and SJVN.