SBI to finance 70% of new Bokaro thermal unit

State Bank of India agreed to finance 70% of Damodar Valley Corporation's 500 mw Bokaro Thermal Power Station project.

SBI along with its associate banks will lend Rs 2,400 crore. SBI will alone provide Rs 1,400 crore.

DVC will invest the balance amount as the debt-equity ratio is fixed at 70:30, SBI said on Tuesday.

The project, which is expected to be commissioned in April 2014, is estimated to cost Rs 3,500 crore.

DVC has signed power purchase agreement with Punjab State Electricity Board for supply of 200 MW of power while the balance power will be consumed in Jharkhand.

The proposed unit will replace the old and abandoned 247 MW thermal power plant which has historical significance of being the first coal based thermal plant of DVC built in 1953.

DVC generates 2210 mw from old thermal plants while it has commissioned new plants with additional capacity of 3500 mw so far. The state-run corporation is expected to enhance capacity by another 1250 mw during this fiscal.

For more, click here.

Also Read

AMPIN Energy Transition achieves financial closure for 200MWp Rajasthan project

India’s solar scheme installs 385,000 units in first six months

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit