REC lends $2b for 2.4GW Patratu power project
The facility's total project cost is pegged at $2.9b.
Enerdata reported that the Indian company Rural Electrification Corporation (REC) will provide a Rs 14,000 crore (approximately US$2.15bn) loan for the construction of the 2,400 MW Patratu Vidyut Utpadan Nigam Ltd (PVUNL) coal-fired power plant in Jharkhand (India). The total project cost of the facility is currently estimated at Rs 18,668 crore (US$2.9bn).
PVUNL is a a joint venture company of NTPC (74%) and distribution company Jharkhand Bidyut Vitaran Nigam Ltd. (JBVNL, Jharkhand government, 26%). The construction of the Patratu coal-power project, consisting of three 800 MW units, started in April 2016. Power generation will be primarily sold to Jharkhand (85%) with the remaining 15% sold to other Indian states.
The original article was posted by Enerdata.