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India's state-owned bank Power Finance and its subsidiary REC have approved a $1.
5 billion loan
to Adani Power for coal-fired power projects in the eastern Indian state of Jharkhand.
It is reported that the loan for this 1600 MW coal-fired power generation project will be divided
equally between the two lenders.
70% of the cost of the project will be financed by loans, the rest will be financed through equity, and REC and Power Finance will provide the full debt
.
The project, which is currently selling electricity to Bangladesh, is located in one of India's
largest coal-producing provinces.
According to people familiar with the matter, the cost includes the construction of a transmission line to carry electricity and the installation of equipment to control sulfur dioxide emissions
.
Not only that, but the project will also receive tax breaks as it has been approved by India's Ministry of Commerce as a Special Economic Zone or Export-Oriented Industrial Operation
.
According to the Bangladesh Electricity Development Board's website, Bangladesh's electricity generation comes mainly from natural gas, which accounts for 56%
of the fuel mix.
According to an approval document from India's environment ministry, the plant will use imported coal and will require up to 9 million tonnes per year to operate
at 85 percent capacity.
India's state-owned bank Power Finance and its subsidiary REC have approved a $1.
5 billion loan
to Adani Power for coal-fired power projects in the eastern Indian state of Jharkhand.
It is reported that the loan for this 1600 MW coal-fired power generation project will be divided
equally between the two lenders.
70% of the cost of the project will be financed by loans, the rest will be financed through equity, and REC and Power Finance will provide the full debt
.
The project, which is currently selling electricity to Bangladesh, is located in one of India's
largest coal-producing provinces.
According to people familiar with the matter, the cost includes the construction of a transmission line to carry electricity and the installation of equipment to control sulfur dioxide emissions
.
Not only that, but the project will also receive tax breaks as it has been approved by India's Ministry of Commerce as a Special Economic Zone or Export-Oriented Industrial Operation
.
According to the Bangladesh Electricity Development Board's website, Bangladesh's electricity generation comes mainly from natural gas, which accounts for 56%
of the fuel mix.
According to an approval document from India's environment ministry, the plant will use imported coal and will require up to 9 million tonnes per year to operate
at 85 percent capacity.
