Reliance Power Recasts Rs 2,430-Cr Loan for Samalkot Project

Reliance Power said on Thursday that the Rs 2,430-crore loan for its Samalkot project has been restructured and its maturity has been extended to June 2022.

“Reliance Power’s Samalkot project successfully recasts Rs 2,430-crore (USD 347 million) loan from US-EXIM amortising repayment schedule converted into bullet repayments. Extended final loan maturity to June 2022  ultra-low interest rate of only 2.65 per cent per annum,” Reliance Power said in a BSE filing.

Reliance Power is in advance stages of development of Bangladesh project and relocating Samalkot modules in Andhra Pradesh to Bangladesh, according to the statement. The company is a private sector power generation and coal resources company.