Reliance Power has received the first disbursement of Rs 2,550 crore amounting $470 million from Export Import Bank of United States (US EXIM) and offshore Commercial Banks. The disbursement is part of $2 billion loan. This disbursement forms part of the overall financing for the company’s 4,000 MW Ultra Mega Power Project at Sasan.
Reliance Power, in July 2012, tied up loans of $1.1 billion amounting over Rs 6,000 crore as the long-term financing commitments from US Exim, Chinese lenders and other Commercial Banks towards the import of equipment for the coal mines and the power project.
Sasan UMPP is a pit-head coal-fired power generating plant in Madhya Pradesh. Last month the company had commissioned the first 660 MW unit of the Sasan Ultra Mega Power Plant.
