Indian Railway Finance Corporation (IRFC) has signed a loan agreement with Haryana Power Generation Corporation Limited (HPGCL) to finance ₹5,929 crore for the 800 MW Yamunanagar power project. This project is strategically important for strengthening Haryana’s power supply and will significantly augment the state’s generation capacity through modern technology.
Loan Agreement for Power Project
Indian Railway Finance Corporation (IRFC) has formalized a loan agreement with Haryana Power Generation Corporation Limited (HPGCL) on September 29, 2025, at HPGCL’s Corporate Headquarters in Panchkula. The agreement commits IRFC to finance up to ₹5,929 crore for HPGCL’s upcoming 800 MW (3rd Unit) supercritical thermal power project at Deenbandhu Chhotu Ram Thermal Power Plant (DCRTPP), Yamunanagar.
Strategic Importance
The Yamunanagar power project is considered strategically important for strengthening Haryana’s power supply for households, industries, and agriculture. HPGCL anticipates that this addition will significantly augment the state’s generation capacity through the incorporation of modern and efficient technology.
IRFC’s Role
Established in 1986, IRFC has played a pivotal role in strengthening India’s rail infrastructure. The company is expanding its role as a diversified infrastructure financier. IRFC maintains a strong asset quality track record.
HPGCL’s Role
HPGCL is a wholly owned Government of Haryana undertaking and is the state’s primary power generation utility, responsible for operating and expanding Haryana’s thermal power generation capacity.
Linkages with Indian Railways
The partnership between IRFC and HPGCL carries forward and backward linkages with Indian Railways. HPGCL’s thermal plants depend on coal transported by Indian Railways from eastern coalfields, ensuring steady freight traffic. The generated power supports Indian Railways’ traction requirements and energy needs across Haryana.
Executive Perspective
Shri Manoj Kumar Dubey, Chairman and Managing Director of IRFC, stated, “At IRFC, our focus remains on financing projects of national importance that are closely integrated with Indian Railways. By extending funding support to HPGCL, we are enabling critical capacity addition in Haryana and reinforcing the linkages that strengthen India’s railway infrastructure.”
Source: BSE
