New Delhi: Indian Railway Finance Corporation (IRFC) has executed a refinancing facility worth up to ₹1,125 crore for Bhartiya Rail Bijlee Company Limited (BRBCL), a joint venture of NTPC Ltd. (74%) and the Ministry of Railways (26%). The loan agreement was signed at BRBCL’s Nabinagar office on August 21, 2025, between Sunil Goel, CGM (BD), IRFC, and Deepak Ranjan Dehuri, CEO, BRBCL, in the presence of senior officials from both organizations.
Supporting Railway-Linked Power Generation
BRBCL, incorporated in 2007, operates the 1,000 MW Nabinagar Thermal Power Project in Bihar, comprising four units of 250 MW each. The plant supplies 90% of its power to Indian Railways and 10% to the Bihar State Electricity Board under a cost-plus tariff regulated by the Central Electricity Regulatory Commission (CERC). The refinancing facility will help reduce BRBCL’s financing costs, strengthening its financial position while lowering the cost of electricity supplied to Indian Railways.
Strengthening Rail Infrastructure Financing
Established in 1986 as the dedicated financing arm of the Ministry of Railways, IRFC has been pivotal in mobilizing funds for railway infrastructure at competitive rates. Recently elevated to Navratna status, the corporation has expanded its financing scope to cover projects with strong linkages to the railway ecosystem, including power generation, transmission, mining, fuel, warehousing, metro rail, freight corridors, and multimodal logistics. IRFC maintains a robust financial profile, consistently demonstrating zero non-performing assets.
Enhancing Synergies Within the Railway Ecosystem
The refinancing initiative highlights IRFC’s role in creating synergies within the railway-linked ecosystem. By supporting BRBCL, IRFC ensures financial sustainability, operational efficiency, and cost-effectiveness for a project that directly serves the Indian Railways’ energy needs. Speaking on the occasion, the IRFC Chairman & Managing Director said, “IRFC is committed to delivering innovative and competitive financing solutions that create a win-win for all stakeholders in the railway ecosystem. This refinancing of BRBCL demonstrates our continued support to the Indian Railways, true to the very reason for which IRFC was set up.”
About IRFC
Indian Railway Finance Corporation (IRFC), headquartered in New Delhi, is the dedicated financing arm of the Ministry of Railways. Established in 1986, IRFC raises funds at competitive rates to support railway projects across India. With its recent Navratna recognition, IRFC has expanded its mandate to finance diversified infrastructure ventures within the railway ecosystem, consistently maintaining strong asset quality and a zero-NPA record.
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