SBI Sanctions ₹10,050 Crore for DVC's 1600 MW Thermal Power Project in Jharkhand

13 Sep 2024 , 11:33 AM

On September 12, 2024, State Bank of India (SBI), the largest lender in India, approved a loan of ₹10,050 Crore to Damodar Valley Corporation (DVC) for an ultra super critical thermal power project.

The project involves the development of a 1600 MW (2×800 MW) thermal power plant in Koderma, Jharkhand, with a total cost of ₹14,357.74 Crore. This thermal power plant is part of the Ministry of Power’s initiative for capacity expansion by 2030.

The new plant is expected to boost power generation capacity in the region and support socio-economic growth. DVC already operates a 2×500 MW thermal power plant in Koderma, addressing local and regional energy needs.

Key figures involved in the agreement include Ashwini Kumar Tewari, Gulshan Malik, Amitava Chatterjee, Arup Sarkar, Joydeep Mukerjee, and Durgesh Maiti from SBI and DVC. DVC, established in 1948 and operating under the Ministry of Power, covers a vast area of 24,235 sq km in West Bengal and Jharkhand.