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Macquarie Fund to invest 580 cr in Moser Baer’s power plant

12 Jan 2011 Evaluate

Macquarie SBI Infrastructure Fund (MSIF) will invest 580 crore to pick up a stake in Moser Baer Power Projects’ (MBPPL) upcoming thermal power plant in Madhya Pradesh. MBPPL would set up a 2,520 megawatts thermal power plant in phases at Anuppur in Madhya Pradesh with an investment of 13,700 crore. The investment of Macquarie SBI Infrastructure would help fund the first phase of 1,200 mw of the Anuppur power plant.

The project is expected to be commissioned by the end of 2014. South Eastern Coalfields would supply the coal requirements for the power project. With the current investment from MSIF and SBI, the first phase of 1,200 mw, which is anticipated to cost 6,240 crore, is fully funded. The remaining funding would come from equity infusion by the Moser Baer Projects. The company had already received funding of 4,680 crore for the first phase in November 2009 from SBI and Axis Bank.

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