JSW group's renewable energy unit to raise Rs 3,900 crore term loan

JREVL is developing an 825 Mw hybrid plant (225 Mw solar, 600 Mw wind) at a cost of Rs 5,255 cr; India Rating has assigned an "A+" to the loan

JSW Renewable Energy (Vijayanagar) Ltd (JREVL) is raising a term loan of about Rs 3,900 crore to fund its project. The JSW group’s power business unit will also use the money to repay Letter of credit (LC) facilities at maturity.

JREVL is developing an 825 Mw hybrid plant (225 Mw solar, 600 Mw wind) at a cost of Rs 5,255 crore, which is being funded in a debt-equity ratio of 75:25. India Rating has assigned an “A+” to the term loan. Equity worth Rs 542 crore has been infused in the project till September 30, by the parent and sponsor JSW