RPower ties up funds for Andhra project | business | Hindustan Times
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RPower ties up funds for Andhra project

Anil Ambani Group firm Reliance Power on Thursday said it has tied up finances for its Rs 17,500 crore ultra mega power project at Krishnapatnam in Andhra Pradesh.

business Updated: Jul 08, 2010 23:25 IST

Anil Ambani Group firm Reliance Power on Thursday said it has tied up finances for its Rs 17,500 crore ultra mega power project at Krishnapatnam in Andhra Pradesh.

The 4,000 MW coal-fired project is being financed in 75:25 debt-equity ratio, R-Power said in a press statement here.

The company has executed financing agreements for the imported coal fired project, the largest in South India.

The project "will supply power at a competitive levelised tariff of Rs 2.33 per unit to Andhra Pradesh, Maharasthra, Tamil Nadu and Karnataka”, the statement said.

“With the financial closure for the Krishnapatnam UMPP, we have completed the financing arrangements for two UMPPs awarded to us by the Government and have secured funding for a capacity of 10,000 MW,” RPower CEO J.P. Chalasani said. Sasan is the other project to which he referred.