Power Finance Corporation (PFC) has approved a Term loan of ₹ 11,338.53 crore for the 3×660 MW coal -based thermal power project at Ghatampur, Kanpur, Neveli Uttar Pradesh Power Limited (NUPPL). The project also includes the development of Captive Pachwara South Coal Mine, which will play an important role in meeting Uttar Pradesh’s growing power demand.
This is between Joint Enterprise (JV) Neveli Lignite Corporation India Ltd (NLC India LTD) and Uttar Pradesh State Electricity Generation Corporation Limited (UPRVUNL), and will generate about 13,969 million units of energy annually. The project will prove to be an important step to strengthen the state’s energy security.
The loan agreement was signed at a formal function, including Mr. HK Das of PFC, Executive Director (Projects – CSP), Mr. Nitin Kumar, General Manager and Chief (Projects – CSP), PFC, and Mr. Ashok Kumar Mali, Chief Financial Officer, NUPPL.
This financial assistance by PFC underlines the importance of sustainable energy infrastructure and reflects its commitment to increase power generation capacity in India. This partnership between Neveli India Limited and UPRVUNL will contribute to increasing the country’s energy security, while Uttar Pradesh will meet the increasing power demand.
This project will not only meet the increasing power requirements of the state, but will also generate employment opportunities and promote regional economic development. Development of captive coal mine with the project will help to keep fuel supply stable and reliable for this project, ensuring stability of long -term operations.
