Sterlite Power has refinanced the loan for its Gurgaon Palwal Transmission Limited project.
The project became fully operational in April 2020. The new financing to prepay the existing project loan of Rs 8 billion has been arranged by HDFC Bank. The new facility has been availed at significantly favourable terms demonstrating the considerably improved risk profile of the project post achievement of CoD. With this transaction, Sterlite Power has achieved a reduction of almost 300 basis points in the interest cost to be incurred by the project on a per annum basis.