JSW Group to raise Rs 22 billion loan to fund 450 MW wind power project

The JSW Group has planned to raise Rs 22 billion through bank loans to fund a 450 MW wind power unit in Tamil Nadu.

JSW Renew Energy Two Limited (JRETL) is setting up power plants at Tuticorin and Dharapuram in Tamil Nadu. The project is scheduled to be finished by March 31, 2023. The proposed term loan is repayable in over 70 structured quarterly instalments, starting after 12 months from the completion or commissioning date, whichever is earlier. The interest rate on the term loan is floating. The total equity requirement is pegged at Rs 7.31 billion.