Published On:September 16 2017
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₹4,000 cr PFC loan to Yadadri thermal power project.
Financial tie-up for 5×800 MW Yadadri Super Critical Thermal Power Station coming up in Damaracherla mandal in Nalgonda district has been completed with the Power Finance Corporation (PFC) agreeing to lend ₹4,009 crore for the fifth unit. The Rural Electrification Corporation (REC) has already sanctioned ₹16,950 crore loan for the first four units.
Chairman and Managing Director of PFC Rajeev Sharma handed over the sanction letter to CMD of Telangana Power Generation Corporation (TS-Genco) Prabhakar Rao at Vidyut Soudha recently. The estimated cost of the Yadadri thermal project is ₹25,100 crore but it is expected to go up further due to cost escalation from the perspective of conforming to the environmental norms.
According to officials, the Genco and the executing agency BHEL have plans to complete the super critical thermal project by the end of 2020. The fresh sanction of loan by PFC takes its total lending to the four power utilities of Telangana to ₹28,210 crore, out of which it has already disbursed ₹16,156 crore.
Thanking PFC CMD Rajeev Sharma for sanctioning the loan to Yadadri thermal project, Mr. Prabhakar Rao said the project would play a key role in meeting the energy demands of Telangana State, particularly for upcoming lift irrigation projects, 24-hour power supply to agriculture sector and other needs.
He explained that the power project has secured all clearances including the environmental clearance already and the work on the project is set to commence soon.