India Power Co. Locks Down $1.4B Financing For Coal Plant

Law360, New York (June 7, 2012, 3:37 PM EDT) -- NTPC Ltd., India's largest power company by generating capacity, has secured a $1.4 billion loan from a consortium of 16 banks to fund a 1,320 megawatt coal-fired thermal power plant development in the northern part of India, NTPC said in a regulatory filing Thursday.

The Indian power giant said in the filing that it has achieved "financial closure" for the Meja Thermal Power Project, a so-called Phase 1 thermal project in the Allahabad district of Uttar Pradesh, a northern state in India. The plant will utilize...
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