Jas Infrastructure and Power, a unit ofAbhijeet Power, plans to fund its 1,320 mw coal-fired power project in Bihar through 20 percent equity and 80 percent debt.
 
 The company will raise $1.2 bn debtfrom a consortium of lenders led by Axis Bank by March. Others in the consortium include Punjab National Bank, UCO Bank, Rural Electrification Corp, Power Finance Corp, Bank of India, State Bank of Bikaner and Jaipur, Oriental Bank of Commerce, IIFCL , HUDCO and LIC.
 
 Abhijeet Power is part of the Abhijeet Group, which has interests in power, mining, roads, steel and ferroalloys space. The Abhijeet Group has developed a 25 mw captive power project and a ferro alloys project in West Bengal, a road project in Karnataka and a bridge project in Maharashtra.
 
 The power generation company is currently developing three thermal power projects with a combined installed capacity of 2,671.6 mw in the states of Maharashtra, Jharkhand and Bihar. These include - MIHAN Power Project in Nagpur, developed by its subsidiary Abhijeet MADC Nagpur Energy, where Abhijeet holds 74 percent stake; Chandwa Power Project in Jharkhand, a 1,080 mw coal-fired plant being developed by its 49 percent JV Corporate Power.