R-Power raises Rs 4,000 crore from PFC for power projects
Reliance Power, the flagship power company of Anil Dhirubhai Ambani Group (ADAG), has raised around Rs 4,000 crore of debt from public sector infrastructure financing company Power Finance Corporation (PFC), to achieve financial closure of two ultra mega power
projects (UMPP). The UMPPs are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh. PFC has committed Rs 2,000 crore of debt each for the upcoming UMPPs. The loans raised have a maturity period of around 20 years with an average interest rate of 12 per cent. Reliance Power had recently bagged three UMPPs in the country. The third is in Jharkhand.
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