Sterlite Power concludes refinancing of LVTPL green energy corridor project in Gujarat

Sterlite Power has announced the refinancing of the Lakadia-Vadodara Transmission project loan within 12 months of the project becoming fully operational in January 2023. The new financing from HDFC Bank Limited, India Infrastructure Finance Company Limited and Bank of Baroda will enable prepayment of the existing project loan of approximately Rs 18.40 billion. In a separate development, Sterlite Power has achieved financial closure for its Beawar Transmission Limited (BTL) project. The project has secured funds totaling Rs 24 billion from RECPDCL. Sterlite Power acquired the BTL SPV in September 2023 to execute the inter-state green energy transmission project on BOOT basis, for a period of 35 years.