One of India's leading power transmission infrastructure companies Sterlite Power has raised ₹1,100 Crores for refinancing its power transmission SPV, Khargone Transmission Limited (KTL) for implementing the transmission system for the Western Region associated with Khargone Thermal Power Plant (1,320 MW).
KTL secured the entire debt funding from Aseem Infrastructure Finance Limited, NIIF Infrastructure Finance Limited and Aditya Birla Finance Limited.
Kochhar & Co. represented Sterlite Power on the deal.
The matter was led by Partner Parul Verma and supported by Associate Swapnil Sant.
With this transaction, Sterlite Power 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)