Adani Power is planning to raise funds of Rs 3,000 crore through ECB route, at an interest rate of 6.5-7%, which the company would use for refinancing some of its projects, mainly for reducing its interest cost by 5%. The company will be raising fund from Chinese bank to refinance Tiroda Debt which is likely to be around Rs 4,000-5,000 crore. Meanwhile, Standard Chartered is the arranger of the loan.
The company has already commissioned 600 MW in Tiroda Plant and would another commission 660 MW unit by July. The thermal power plant is the biggest in central India and the first super-critical technology-based unit. Spread over 540 hectares of land, the plant erection work started in February 2009 and Adani Power was importing about three million coal annually to run the show.
