Reliance Power's 4,000 MW Krishnapatnam project achieves financial closure
08 Jul 2010
Reliance Power has achieved financial closure of its 4,000 MW Krishnapatnam ultra mega power project (UMPP), its second UMPP after Sasan.
Krishnapatnam Ultra Mega Power Project is being developed by Coastal Andhra Power Ltd (CAPL), a wholly owned subsidiary of Reliance Power.
The Krishnapatnam project will be the largest power project in South India and Reliance Power expects to commission it eight months ahead of schedule.
The Rs17,500-crore project is financed at a debt to equity ratio of 75:25.
IDBI Limited and PFC have acted as lead arrangers to the facility. More than 15 Indian banks and financial institutions participated in one of the largest project finance facility in India across Industries.
Reliance Power has now secured financing for 10,000 MW of thermal power projects - the largest capacity among all private sector developers.
The project, based on efficient and environment friendly supercritical technology, will supply power at a competitive levelised tariff of Rs2.33 per kWh to 300 million people in the four states of Andhra Pradesh (1600 MW), Maharashtra (800 MW), Tamilnadu (800 MW), and Karnataka (800 MW).