Indian Railway Finance Corporation (IRFC) has executed a refinancing facility of up to Rs 1,125 crore for Bhartiya Rail Bijlee Company (BRBCL), a joint venture of NTPC (74%) and Ministry of Railways (26%).
The refinancing support extended by IRFC will help reduce BRBCL's financing costs, thereby strengthening its financial position while also lowering the cost of electricity supplied to Indian Railways. This creates a win-win outcome – improving BRBCL's bottom line and directly benefiting the Ministry of Railways both as an equity holder and as the ultimate customer.
BRBCL, incorporated in 2007, operates the 1,000 MW Nabinagar Thermal Power Project (4x250 MW) in Bihar. The plant supplies power under a long-term PPA, with 90% of its capacity dedicated to Indian Railways and 10% to Bihar State Electricity Board, under cost-plus tariff regulated by CERC.