Synopsis: The State Bank of India (SBI) has sanctioned Rs. 10,050 crore to Damodar Valley Corporation (DVC) for its 1600 MW Ultra Super Critical Thermal Power Project in Koderma, Jharkhand. This project is part of India's broader power capacity expansion goals set by the Ministry of Power.
The State Bank of India (SBI) has announced the approval of a Rs. 10,050 crore loan to Damodar Valley Corporation (DVC) to fund its 1600 MW (2x800 MW) Ultra Super Critical Thermal Power Project located in Koderma, Jharkhand.
This financing marks a significant milestone in India's energy sector as the project has been identified by the Ministry of Power as a key contributor to the country's power capacity addition by 2030.
The loan agreement, formalized during an event attended by senior officials from both organizations, represents a strong commitment by SBI to support critical infrastructure projects aimed at enhancing India’s energy production.
Key figures present at the signing included Shri Ashwini Kumar Tewari, Managing Director (Corporate Banking & Subsidiaries) at SBI; Shri Gulshan Malik and Shri Amitava Chatterjee, Deputy Managing Directors (Commercial Clients Group) at SBI; and Shri Arup Sarkar, Member Finance, DVC, along with other senior executives.
This project, once completed, will not only increase power generation capacity but also contribute to the state’s industrial development.
The Ultra Super Critical Thermal technology being used in the plant is one of the most advanced in the industry, known for its higher efficiency and lower emissions, making it a key step towards sustainable energy growth in India.
In conclusion, SBI's financial backing of Rs. 10,050 crore for DVC's thermal power project is a crucial move toward India's 2030 power capacity targets.
The project is expected to significantly enhance energy production in Jharkhand and align with India’s commitment to adopting advanced, efficient, and eco-friendly power generation technologies.
Disclaimer: The information in this article is based on official announcements and publicly available sources. Readers are encouraged to seek independent verification. This article does not provide financial, legal, or investment advice.
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