The Himachal Herald, SHIMLA
Agreement for Term Loan of Rs 8448.46 Crore for 1320 MW Buxar Thermal Power Project at Chausa in Buxar district of Bihar being executed by SJVN Thermal Pvt. Limited (STPL), a wholly owned subsidiary of SJVN between STPL and the consortium of lending Banks & Financial Institution (FI) in a glittering ceremony at Patna. The Loan agreement was inked between the parties in the august presence of Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN. The ceremony of Financial Closure was also graced by Smt Geeta Kapur, Director (Personnel), Sh. A. K. Singh, Director (Finance), SJVN, Sh Sushil Sharma Director (Electrical) and Sh. Sanjeev Sood, CEO, STPL.
Sh. S L Sharma, Chief Finance Officer, signed the agreement on behalf of STPL with Consortium Banks/FI, which included State Bank of India, Canara Bank and IIFCL. SBI Capital Markets Ltd. was the sole financial advisor and debt arranger to the company for this transaction. Signing of the Loan agreement paves way for funding of the construction activities in addition to equity being infused by the promoter.
Addressing the gathering on this occasion Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN highlighted the need of Power for overall development of the Nation and contribution of SJVN in this regard. He said that with an installed capacity of 2016.5 MW and an ambitious plan to add 25000 MW to its portfolio by 2040 SJVN has emerged as a major power player in the country. He further told that with the commissioning of 1320 MW Buxar Thermal Power Project in June 2023, power deficit of Bihar will be met to a large extent and shall bring about remarkable improvement in the socio-economic development of the people of the State. Sh. Sharma specifically mentioned the cooperation and support received from the State Government in the execution of the Project and thanked Sh. Nitish Kumar, Hon’ble Chief Minister of Bihar and State Government officials for the same. Sh. Sharma also expressed his gratitude towards the consortium banks for reposing their faith in SJVN and extending term loan for the Buxar Project. Sh. Sanjeev Sood, CEO, STPL assured that the Project will be completed as envisaged in June 2023. Buxar Thermal Power Project has been awarded to SJVN for execution by Government of Bihar. EPC contract of project stands awarded to M/s L&T in June 2019 and work in all components of the project is going on in full swing. The project will generate 9828 MU of power annually. As per the power purchase agreement with Bihar Government 85% of the power generated from the project will be given to Bihar state and 15% will be sold to other power purchaser at the Bus Bar rate. The project will generate employment opportunities, promote infrastructure development and herald a new era of socio-economic prosperity in the Project area and in the entire State of Bihar at large. SJVN’s present installed capacity is 2016.51 MW with portfolio of around 9000 MW, having presence in various sectors of energy generation which includes Hydro, Wind, Solar & Thermal. The company also has presence in the field of Energy Transmission.
As colour can’t lose its ability to give colour after being broken several times. Similarly, I also can’t unlearn the art of spreading love and smile, after being broken, several times by my life !
Boasting a rich and dynamic career of over 18 years in journalism. A “journalist” usually works for an organization such as a newspaper or radio or TV station. They are hired to cover news events and present the information in a timely (and hopefully accurate) manner. There are free lance journalists who sell stories to independent companies.
“As a Journalist I mainly concerned with getting the facts straight”
RP Negi
Editor in Chief
Contact: 9816020056
Email: [email protected]