Indian Railway Finance Corporation (IRFC) has signed a loan agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO) to provide funding of ₹10,560 crore. This investment will support the upcoming 2×660 MW supercritical expansion project at Koradi Thermal Power Station in Nagpur. This collaboration aims to ensure reliable power supply and capacity addition for Maharashtra’s industrial and agricultural consumers.
Funding Agreement with MAHAGENCO
Indian Railway Finance Corporation (IRFC) entered into a loan agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO) on September 29, 2025. The agreement commits IRFC to financing up to ₹10,560 crore for MAHAGENCO’s expansion project.
Koradi Thermal Power Station Expansion
The funding supports the upcoming 2×660 MW supercritical expansion project at Koradi Thermal Power Station (TPS) in Nagpur. This expansion aims to add 1,320 MW of modern supercritical capacity, replacing older units.
Strategic Importance and Impact
The project is strategically important for ensuring reliable power supply to Maharashtra’s industrial and agricultural consumers. Sunil Kumar Goel, Chief General Manager, IRFC, and Pankaj Sharma, CGM (Finance), MAHAGENCO, signed the loan agreement at IRFC’s headquarters in New Delhi.
IRFC’s Role and Diversification
Established in 1986, IRFC plays a pivotal role in strengthening India’s rail infrastructure. As a diversified infrastructure financier, IRFC’s mandate covers projects with forward and backward linkages with railways, including power generation and transmission, mining, fuel, and multimodal logistics. The company maintains a strong asset quality track record with a zero-NPA portfolio.
Strengthening Railway Infrastructure
Manoj Kumar Dubey, Chairman and Managing Director & CEO of IRFC, stated, “At IRFC, our priority is to support projects that are closely integrated with Indian Railways and deliver enduring benefits. By extending funding support to MAHAGENCO, we are not only enabling critical capacity addition in Maharashtra but also strengthening the railway infrastructure that is vital for nation building.” The collaboration also benefits Indian Railways through transportation of coal to MAHAGENCO’s power stations via long-term Tripartite Agreements (TPAs).
Source: BSE
