REC, PVUNL sign ₹14,000-cr loan agreement

Rural Electrification Corporation and Patratu Vidyut Utpadan Nigam Ltd (PVUNL) have signed a loan agreement for establishing the 3×800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand.

An REC statement said the project cost of ₹ 18,668 crore is funded in the debt: equity ratio of 75:25 and ₹14,000 crore (entire debt component of project) has been sanctioned by REC as sole lender to the project.

PVUNL is a subsidiary of NTPC holding 74 per cent stake in the company and 26 per cent stake is held by Jharkhand Bijli Vitran Nigam Ltd (JBVNL), the discom utility of Jharkhand state.