Sterlite Power has successfully refinanced the loan for its Lakadia-Vadodara Transmission project within just 12 months of its full operationalization in January 2023.
The new financing, provided by HDFC Bank Limited, India Infrastructure Finance Company Limited, and Bank of Baroda, facilitates the prepayment of the existing project loan totaling approximately Rs 18.40 billion. With the refinancing, Sterlite Power secures a reduced interest rate of around 8.25% per annum, payable monthly, representing a significant improvement over the previous terms. Additionally, the overall tenure of the facility extends to about 18 years. This strategic move underscores Sterlite Power’s commitment to optimizing its financial arrangements and enhancing the efficiency of its green energy projects, further bolstering its position in the renewable energy sector.
