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 the prepayment of the existing project loan of approximately Rs 18.4 billion. The new refinancing secures a reduced interest rate of around 8.25 per cent per annum payable monthly, a significant improvement over the previous terms. The overall tenor of the facility is about 18 years.