Lanco Infratech Ltd today announced financial closure of its 1,320 MW thermal power project, being developed by its unit Lanco Vidarbha Thermal Power Ltd, in Maharashtra, with the company securing a debt of Rs5,549 crore from a consortium of banks. The project, estimated to cost Rs6,936 crore, would be financed through Rs5,549 crore of debt and an equity of Rs1,387 crore, the company said in a statement. In a separate development, the company said it has got letters of intent to develop a 5-MW solar PV project and a 100-MW solar thermal project in Rajasthan under the first phase of the National Solar Mission (NSM).
The company said it has plans to develop 200-300 MW of solar power in the next two years. "The recent wins under NSM, especially the 100 MW in solar thermal, goes well with our strategy to develop 200-300 MW over the next two years across the nation and emerge as a leading developer in the country and globally," its subsidiary, Lanco Solar's CEO Sai Baba said in the statement.
The company said it has plans to develop 200-300 MW of solar power in the next two years. "The recent wins under NSM, especially the 100 MW in solar thermal, goes well with our strategy to develop 200-300 MW over the next two years across the nation and emerge as a leading developer in the country and globally," its subsidiary, Lanco Solar's CEO Sai Baba said in the statement.
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