NHPC gets debt commitment of Rs 4,500 cr from PFC, REC for Teesta project

The project will be implemented at an estimated project cost of Rs 5,748 crore which includes the bid amount

NHPC Ltd has got a debt committment of Rs 4,500 crore with state-owned lenders Power Finance Corporation and Rural Electricity Corporation for reviving the Lanco Teesta project in Sikkim. 

With the signing of an agreement with a committee of creditors on Friday, the Union government-owned hydropower major has become the first PSU to take over a stressed asset through a resolution process in the National Company Law Tribunal (NCLT).

The company has also put in an expression of interest for Jal Power, another insolvent hydropower unit with a capacity of 120 MW in Sikkim, said Balraj Joshi, chairman and managing