Lanco Infra to solar power project in Rajasthan

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.