Current Affairs PDF Sales

PFC, REC sign MoU with SJVN to provide INR 8, 520 Crore loan for Thermal power plant in Buxar, Bihar

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

REC-executed-MoU-with-STPL-for-Extending-Term-Loan

On November 26, 2020, Power Finance Corporation Ltd (PFC) & REC Limited (formerly known as Rural Electrification Corporation Limited) signed a Memorandum of Understanding (MoU) with SJVN Thermal (P) Limited (STPL) at Power Finance Corporation (PFC), New Delhi for extending Term Loan of INR 8520.46 Crores for 2×660 MegaWatts (MW) Buxar Thermal Power Project, Bihar.

The MoU was signed in the presence of Ravinder Singh Dhillon, Chairman and Managing Director (CMD) of Power Finance Corporation (PFC), N. L. Sharma, CMD of SJVN, A. K. Singh, Director (Finance), SJVN and others.

Key Points:

i.The 2x660MW Thermal project will be commissioned in the Financial Year (FY) 2023-24.

ii.The power plant will generate around 9828 Million Units of Energy and will meet the future power requirements of Bihar and other states.

SJVN:

i.Based in Shimla, Himachal Pradesh (HP), it is a Mini Ratna, Category-I and Schedule – ‘A’ CPSE under administrative control of Ministry of Power.

ii.It is a joint venture (JV) GoI and Government of Himachal Pradesh (GOHP).

Recent Related News:

i.SJVN Limited signed a MoU with GoI for the year 2020-21 as per which the former has the target to achieve 9680 Million Units of electricity generation during FY21 under “Excellent” category.

About Power Finance Corporation Ltd (PFC):

Chairman & Managing Director (CMD) – Ravinder Singh Dhillon
Headquarters – New Delhi

About REC Limited (formerly known as Rural Electrification Corporation Limited):

CMD – Sanjay Malhotra
Headquarters – New Delhi