Indian Railway Finance Corporation (IRFC) has signed a loan agreement with Maharashtra State Power Generation Company (MAHAGENCO) at its Corporate Office in New Delhi for financing of up to Rs 10,560 crore towards the upcoming 2x660 MW supercritical expansion project at Koradi Thermal Power Station (TPS), Nagpur.
The project, being implemented on the site at Koradi, is of strategic importance in ensuring reliable power supply to Maharashtra's industrial and agricultural consumers. With this expansion, MAHAGENCO will add 1,320 MW of modern supercritical capacity, replacing older, less efficient units. This financial support from IRFC will ensure smooth execution of the Koradi expansion.
The partnership also carries strong forward and backward linkages with Indian Railways. MAHAGENCO has executed multiple long-term Tripartite Agreements (TPAs) with Indian Railways for transportation of coal to its various power stations. Substantial operational and capital expenditure is incurred annually on coal freight, wagon handling, and associated logistics, contributing significantly to Indian Railways' freight revenues.
Indian Railway Finance Corporation (IRFC) is the dedicated market borrowing arm of the Indian Railways.
