Sterlite Power has announced the successful refinancing of its project loan for the recently commissioned Khargone Transmission Project.
The fresh financing from Aseem Infrastructure Finance Limited (Rs 5.25 billion), NIIF Infrastructure Finance Limited (Rs 4.50 billion) and Aditya Birla Finance Limited (Rs 2.25 billion), will enable the company to prepay the existing project loan of approximately Rs 11 billion.With this transaction, Sterlite Power has achieved a reduction of almost 400 basis points in the interest cost to be incurred by the project on a per annum basis. Khargone Transmission Project achieved successful commissioning in December 2021. The project evacuates 1,320 MW of power generated by the Khargone power plant to 765 kV Khandwa substation to further distribute it downstream across the western and central region in India.