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| Edited By: Shubhashish,Ashish K Tiwari |Source: DNA |Updated: Mar 17, 2018, 02:23 AM IST
IDFC’s project equity division is weighing investment in a greenfield power plant being set up by Monnet Power and Energy.
The company is setting up a 1,050 mw power plant in Orissa at a total investment of Rs 2,300 crore.
A source familiar with the development said IDFC Project Equity Co Ltd will most likely invest around Rs 400 crore in the project for a significant minority stake.
“The power project is scheduled to be put on floor in the next fiscal and the financing model and fund-raising plans will have to be completed by the end of the current fiscal. These would be done in the next couple of months,” said the source.
Sandeep Jajodia, vice chairman and managing director of Monnet Ispat and Energy, was not available for comment.
IDFC spokesperson Ravi Muthreja refused to comment.
The investment in Monnet Ispat is expected to be made by the end of this fiscal.
