MUMBAI, Dec 4: The Infrastructure Development Finance Company Ltd (IDFC) has kicked off its operations by approving financial assistance to two power projects Bina Power Supply company of Aditya Birla group and Jindal Tractebel Power Company.

IDFC has approved guarantees of Rs 200 crore to Bina Power provided by the foreign lenders and an export credit agency. Bina Power is promoted by the Birlas in association with Powergen of UK. The company is setting up a thermal power plant with an installed capacity of 578 mw in MP. O P Jindal group in collaboration with the Tractebel, Belgium is setting up a coal/gas based power plant with an installed capacity of 260 mw in Karnataka.

Though IDFC has begun operations, the formal inauguration is scheduled to be held in Chennai on December 13.

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