Rural Electrification Corporation (REC) and Patratu Vidyut Utpadan Nigam (PVUNL), subsidiary of NTPC have signed a loan agreement for establishing the 3x800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand.
The project cost of Rs 18,668 crore is funded in debt equity ratio of 75:25 and Rs 14,000 crore. This entire debt component of the project is sanctioned by REC as sole lender for the project. PVUNL is a subsidiary of NTPC holding 74 per cent stake in the company.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
