Reliance Completes Funding for Indian Power Plant

13 July 2009 (Last Updated July 13th, 2009 18:30)

India's Reliance Power has finalised funding for its 1,200MW Rosa power project in the northern state of Uttar Pradesh, and hopes to start generating power this year. India's state-run IDBI Bank arranged the loan for the expansion stage of the project, with financing also coming from st

India's Reliance Power has finalised funding for its 1,200MW Rosa power project in the northern state of Uttar Pradesh, and hopes to start generating power this year.

India's state-run IDBI Bank arranged the loan for the expansion stage of the project, with financing also coming from state-run Life Insurance Corp and 13 other banks, Reliance said in a statement.

The company has not released further details on the funding.

The Rosa project will supply 900MW of power to Uttar Pradesh Power Corp and is expected to be fully operational by the end of March 2012.