Rel Power gets $5-bn US Exim Bank funds | business | Hindustan Times
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Rel Power gets $5-bn US Exim Bank funds

business Updated: Nov 07, 2010 22:19 IST
HT Correspondent
HT Correspondent
Hindustan Times
Reliance Power

Anil Ambani-promoted Reliance Power has announced a $5 billion (nearly R22,000 crore) funding from the US Export Import Bank for executing about 9,000 MW of gas-based and renewable energy projects.

The memorandum of understanding (MoU) was signed by Reliance Power chairman Anil Ambani and US Exim Bank chairman Fred Hochberg on Saturday in Mumbai.

RPower had announced on Saturday in the presence of Obama that it is procuring equipment worth about R10,000 crore from General Electric and other US companies for its power and coal mining projects.

Exim Bank has previously approved a $917 million loan for RPower’s 3,960 mw Sasan ultra mega power project.