REC to provide Rs 140 billion loan for 2,400 MW Patratu power plant

The Rural Electrification Corporation (REC) and Patratu Vidyut Utpadan Nigam Limited, a subsidiary of NTPC Limited, have signed a loan agreement worth Rs 140 billion for setting up Phase I of the 2,400 MW Patratu superthermal power project in Jharkhand. The project, which has an estimated cost of Rs 186.68 billion, is being funded in a debt-equity ratio of 75:25 and the entire amount sanctioned by REC constitutes the debt component of the project.