IRFC sanctions ₹12,640 crore loan for Chhattisgarh power project

On September 26, 2025, Indian Railway Finance Corporation (IRFC) sanctioned a Rupee Term Loan of ₹12,640 crore to Chhattisgarh State Power Generation Company Limited (CSPGCL). This funding is designated for CSPGCL's upcoming 2x660 MW super critical thermal power project located at HTPS, Korba West, a wholly owned entity of the government of Chhattisgarh.

The loan agreement was formally signed at CSPGCL's headquarters in Raipur. Representatives from IRFC included general manager Mr. Nav Goel, while CSPGCL was represented by executive director (finance) Mr. Sandeep Modi, and executive director (projects) Mr. C.L. Netam. This financing aims to provide CSPGCL with long-term, low-cost resources to ensure the financial stability and timely execution of this critical power project.

IRFC, established in 1986 as the dedicated financing arm of the Ministry of Railways, has expanded its role as a diversified infrastructure financier. Recently accorded 'Navratna' status, IRFC focuses on projects with linkages to the railway ecosystem, including power generation and transmission. CSPGCL, incorporated in 2003, is Chhattisgarh's state-owned generation utility, managing over 2,600 MW of installed capacity.