REC, PFC to provide Rs.8,521-Cr loan to Buxar thermal power unit

State-owned REC Ltd and Power Finance Corporation (PFC) have inked a pact to provide INR 8,520.92 crore for setting up a 1,320 MW thermal power plant at Buxar by SJVN Thermal Pvt Ltd. REC Ltd and Power Finance Corporation Ltd (PFC) - Maharatna CPSEs under the ministry of power -- have signed a pact with SJVN Thermal Pvt Ltd (STPL) for financing the 2x660 MW coal-based Buxar Thermal Power Plant (BTPP). The total estimated project cost is INR 12,172.74 crore. BTPP is a greenfield project designed on supercritical technology to improve the reliability of India's eastern electricity region and provide power to the state of Bihar.