Khaitan & Co Advised Power Finance Corporation Ltd. On ₹1,373 Cr Loan To Sterlite Power

Khaitan & Co Advised Power Finance Corporation Ltd. On ₹1,373 Cr Loan To Sterlite Power

Khaitan & Co, advised Power Finance Corporation Ltd. on its INR 1,373 crores loan to Neemrana II Kotputli Transmission, a Sterlite Power entity, for the construction and development of electricity transmission structures.

Sterlite Power, a leading private sector power transmission infrastructure developer, successfully secured funding amounting to Rs 1,373 crores for its Neemrana II Kotputli Transmission Limited (NKTL) project from PFC, a state-owned entity. Sterlite Power had acquired the Neemrana II Kotputli Transmission Limited Special Purpose Vehicle (SPV) in November 2023 with the objective of executing the green energy corridor project on a Build, Own, Operate, and Transfer (BOOT) basis, spanning a period of 35 years.

The project aims to establish crucial interconnections by linking the Neemrana substation to the existing Kotputli substation. Additionally, it will facilitate a Line-In Line-Out (LILO) connection, integrating the Neemrana II substation with the Gurugram and Sohna substations through the existing Gurugram-Sohna line.

The core legal team at Khaitan & Co, led by Siddharth Srivastava (Partner), with Raunak Singh Rahangdale (Principal Associate), Abhilash Kumar (Senior Associate), and Yash Patel (Senior Associate), played a pivotal role in facilitating the transaction.

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