{"id":25377,"date":"2022-02-22T18:26:39","date_gmt":"2022-02-22T12:56:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-azure-power-refinance\/"},"modified":"2022-02-22T18:32:10","modified_gmt":"2022-02-22T13:02:10","slug":"biz-azure-power-refinance","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-azure-power-refinance\/","title":{"rendered":"Azure Power refinances 600 MW solar project"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3097224045\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Feb 22 (PTI) Azure Power on Tuesday said it has refinanced its 600 MW solar power project at the lowest rate of interest in its portfolio to date.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3641165412\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Azure Power is an independent sustainable energy solutions provider and power producer in India.<\/p>\n<p> The company has successfully refinanced its existing project finance facility of Rs 23.50 billion (USD 313 million or Rs 2,350 crore) utilised towards construction of its largest project \u2013 600 MW Interstate Transmission System-connected solar project implemented by Azure Power Forty Three Pvt Ltd, a company statement said.<\/p>\n<p> The project was fully commissioned in December 2021.<\/p><div class=\"trade-content_5\" id=\"trade-2717894795\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The refinancing has been completed at a rate of interest of 7.2 per cent per annum, which is fixed for 42 months and the lowest rate of interest for any project finance facility in terms of rupee financing for the company&#8217;s existing portfolio so far.<\/p>\n<p> &#8220;Refinancing the original term loan was one of our highest priorities, even before the project was fully commissioned in December 2021. The facility will result in substantial savings in interest cost and will improve the project IRR significantly.<\/p>\n<p> &#8220;We are overwhelmed with the response we get from the credit markets which basically reflects lenders&#8217; confidence in our strong corporate governance standards, operational capabilities, and credit fundamentals,&#8221; said Pawan Kumar Agrawal, Chief Financial Officer, Azure Power.<\/p>\n<p> L&#038;T Finance Limited has acted as the sole underwriter for this refinancing facility. PTI KKS  MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-3027138468\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 22 (PTI) Azure Power on Tuesday said it has refinanced its 600 MW solar power project at the lowest rate of interest in its portfolio to date. Azure Power is an independent sustainable energy solutions provider and power producer in India. The company has successfully refinanced its existing project finance facility of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-25377","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Azure Power refinances 600 MW solar project - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-azure-power-refinance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Azure Power refinances 600 MW solar project\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 22 (PTI) Azure Power on Tuesday said it has refinanced its 600 MW solar power project at the lowest rate of interest in its portfolio to date. 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