.. East Coast Set To Tie Up Funds For 2,640-mw Bhavanapadu Greenfield Coal-based Power Plant In The Srikakulam District Of Andhra Pradesh

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21 Aug 2010

Summary

East Coast Energy Ltd, which is in the process of setting up a 2,640-MW Bhavanapadu Greenfield coal-based power plant in the Srikakulam district of Andhra Pradesh, is all poised to achieve financial closure for the 1,320-MW (660 MW x 2) second phase by September 2010. The company has closed funding for the Phase I of the project, which earlier faced some hurdles over the environmental issues on the ground that the project is located in marshy/swamp and comes under the national conservation zone.The Managing Director of East Coast Energy Ltd., Mr T.V. Krishna, said, that the funds are being tied up for the entire project with a 25:75 equity structure. While the equity component has been closed after the recent private placement from Morgan S......

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