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Hyderabad, July 8

Lanco Energy Private Ltd has achieved financial closure for the 500 MW (4x125) Teesta VI hydropower project being developed in Sikkim. The Rs 3,000-crore project would be financed with a debt of Rs 2,400 crore and equity of Rs 600 crore. A consortium of nine banks and financial institutions, led by ICICI Bank, would take care of the debt component. Lanco Infratech Ltd would have a 74 per cent stake in the project with the Sikkim Government holding the remaining stake, acco rding to Mr L. Madhusudhan Rao, Lanco group Chairman. The power portfolio of the group included an operating capacity of 518 MW and additional capacities under construction aggregating to more than 3,200 MW, with an aggregate orders worth Rs 7,500 crore. —

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