The project is being executed by Rosa Power Supply Company, a wholly-owned subsidiary of Reliance Power, and funding for Phase-I and Phase-II has also been tied up.
According to company sources, the company had completed the commissioning of boiler turbine generator (BTG) in October and when commissioned this project would be the first private power project in North India.
The generation of 600 MW of power in the first phase would be totally dedicated to Uttar Pradesh. Reliance Power has tied up with the IDBI Bank-led consortium of domestic banks to secure the debt portion for the second phase of the 600-MW project located in Shahjahanpur district.
The consortium will lend around Rs. 2,000 crore out of the total project cost of Rs. 2,702 crore. The balance will be funded through equity. Work on the second phase is expected to be completed by early 2010.
Reliance Power is planning to implement projects to produce over 30,000 MW in various parts of the country.