REC and PFC have signed an initial pact with SJVN to provide Rs 8,520 crore worth loan for a thermal power plant in Buxar, Bihar. PFC along with REC executed a Memorandum of Understanding with SJVN Thermal (STPL) for extending term loan of Rs 8,520.46 crore for 2x660 MW Buxar Thermal Power Project on November 26 2020. STPL is a wholly-owned subsidiary of SJVN and executing the project. The Buxar thermal power project is expected to be commissioned in 2023-24 and generate approximately 9,828 million Units of energy to meet the future power requirement of Bihar and other states.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
