Gemac Energy Ltd (GEL) is planning to raise around Rs 600 crore from a private equity fund to support its proposed Rs 6,000-crore power plant in Tamil Nadu.
Kishore Arcot, chief executive officer, Gemac Energy, told Business Standard that the company planned to set up a coal-based thermal power plant in the state with a total capacity of 1,320 Mw with an investment of around Rs 6,000 crore.
The proposed investment will be funded through 80:20 debt-equity. “While 10 per cent will come from promoters and others, we are looking at private equity for the remaining Rs 600 crore,” said Arcot.
The power project is to come up on 800 acres at Sirkazhi in Nagapattinam district.
