Sterlite Power successfully concludes refinancing of Khargone Transmission Project for INR 1200 cror

New Delhi, 21 March 2022: Sterlite Power, a leading power transmission developer and solutions provider, announced the successful refinancing of its project loan for the recently commissioned Khargone Transmission Project. The new financing from Aseem Infrastructure Finance Limited (INR 525 cr), NIIF Infrastructure Finance Limited (INR 450 cr) and Aditya Birla Finance Limited (INR 225 cr), will enable prepayment of the existing project loan of approximately INR 1100 crores.

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, demonstrating the considerably improved risk profile of the project post achievement of CoD (Date of Commercial Operation). The refinancing of this critical inter-state transmission project also highlights the keen interest of financial institutions in funding power transmission projects with stable long-term cash flows.