On 7th March, 2017 West Bengal’s first super critical thermal power project in Murshidabad district has been sanctioned financial assistance of Rs 2,703 crore by State-run Power Finance Corp.
In a statement the company said, “PFC, a Non-Banking Financial Company (NBFC) in power sector, has sanctioned a term loan of Rs 2,703.88 crore to West Bengal Power Development Corporation Ltd (WBPDCL) for construction of Unit 5 (1 X 660 MW) under phase III of Sagardighi Thermal Power Station in Murshidabad.”
As per the statement, the West Bengal government owns WBPDCL, a company which helps in generation and supply of electric power in the state. The first super critical thermal power plant, the 660 MW Sagardighi Unit 5, is being developed by WBPDCL in the state, which is expected to be commissioned by October 2020 at an estimated cost of Rs 3,862.69 crore.
To meet the future power requirement of West Bengal, it will generate approximately 4,209 million units of energy. The project is proposed to be funded in the debt equity ratio of 70:30 and the entire debt is proposed to be funded by PFC, it said.
In Kolkata, the loan agreement was signed between PFC and WBPDCL officials. During the signing of the agreement State government officials and utilities and senior management of PFC were also present, it added.
PFC and WBPDCL has a long standing relationship and has also sanctioned loans worth Rs 8,290 crore for various existing units of Kolaghat, Sagardighi, Santaldih and Bakreswar thermal power projects.
News Source: economictimes.indiatimes.com
Picture Source: google.co.in