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Sterlite Power extends credit for Gurgaon Palwal Transmission project

Monday, 06 Jul 2020
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Sterlite Power has refinanced the Gurgaon Palwal Transmission project through HDFC Bank leading to around 300 basis points reduction in the interest cost. The project became fully operational in April 2020.

The new financing to prepay the existing project loan of Rs 800 crore has been arranged by HDFC Bank and Sterlite Power.

The new facility has been availed at significantly favourable terms demonstrating the considerably improved risk profile of the project post achievement of date of commercial operation (CoD).

Successfully commissioned in the month of April 2020, the GPTL project connects 2,000 MW additional power to Gurugram and Palwal areas in the state of Haryana.

Apart from making Gurugram DG-set free, this project will enable access to reliable power for more than three million households in the state.

This project has implemented India's first vertical GIS substations built at Prithla, Kadarpur and Sohna.

Apart from saving land, this innovation has resulted in offsetting more than 18,000 tons of CO2 emissions each year as compared to conventional layout of a similar GIS substation.

 

 
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