<\/p>\n
Adani Power, India\u2019s largest private thermal power producer, plans to raise 80 billion rupees ($836 million) through local debt markets this year to fund expansion, according to people familiar with the matter.<\/p>\n
The fundraising includes 50 billion rupees of public debt and around 30 billion rupees of loans from a group of lenders led by State Bank of India, the people said, asking not to be identified as the information is private.<\/p>\n
The loan\u2019s tenor may range from two-to-five years, and the company is also looking to raise funds in portions through bilateral deals with large domestic institutions for up to 10 years, the people said.<\/p>\n
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The fundraising will help the company diversify its borrowing sources and lock in longer-term financing, the people said, as India\u2019s electricity demand remains elevated.<\/p>\n
Adani Power aims to expand generation capacity to 41 870 megawatt by the fiscal year ending in 2032, up from a little over 18,000 megawatts at present, according to an investor presentation.<\/p>\n
Spokespersons for the Adani Group and the State Bank of India did not immediately reply to Bloomberg\u2019s queries seeking comment.<\/p>\n
Earlier in January, Adani Power raised 75 billion rupees via local bonds after a gap of nearly nine years. The company is also planning to issue bonds to individuals in the next few months, said the people.<\/p>\n
Local arm of S&P, Crisil Ratings assigned an AA grade to Adani Power, citing a strong market position with a diversified portfolio of coal-based power plants across geographies.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Adani #Power #seeks #80bn #rupees #debt #fund #expansion<\/p>\n","protected":false},"excerpt":{"rendered":"
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