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Adani Power consolidates โ‚น19,700-crore loans of 6 SPVs into single long-term debt

ThehindubusinesslineThehindubusinessline ยท 1y ago
Adani Power consolidates โ‚น19,700-crore loans of 6 SPVs into single long-term debt
Medial

Adani Power has consolidated the standalone term loan facilities of its six Special Purpose Vehicles (SPVs) into a single long-term loan facility of โ‚น19,700 crore. This move follows the enhancement of Adani Power's credit rating to AA-. The company expects to benefit from uniform terms, greater financial flexibility, and a reduced effective rate of interest through this consolidation. Additionally, Adani Power's subsidiary, Mahan Energen Ltd (MEL), has entered into a 20-year Power Purchase Agreement (PPA) with Reliance Industries (RIL) for 500 MW under the Captive User policy. RIL will invest โ‚น50 crore for a 26% ownership stake in the captive unit.

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