RPower to tie up funds for Sasan in this month: PFC

MUMBAI: State-run Power Finance Corporation said the Anil Ambani-led Reliance Power may arrange funds for the 4,000-MW Sasan ultra mega power project in Madhya Pradesh this month.

"Reliance Power is likely to tie up funds for the Sasan project this month," Power Finance Corp CMD Satnam Singh told reporters here.

PFC is a financial institution dedicated to financing the power sector.

The power project is estimated to cost about Rs 19,000 crore, to be funded at a debt equity ratio of 75:25. The debt component would be raised by a consortium of banks led by State Bank of India.

Besides Sasan, Reliance Power has also bagged two other UMPPs -- Krishnapatnam and Tilaiya -- and the three projects together are being set up at an estimated cost of Rs 50,000- 60,000 crore.