Kalpataru Power Transmission's joint venture with Techno Electric and Engineering has achieved financial closure for its Jharli Bawana transmission line project by tying up debt of INR 276 crore with a consortium of four banks.

Mr Manish Mohnot ED of Kalpataru Power Transmission said that "IDFC is the lead banker and the loans have tenor of five to 15 years.”

The special purpose vehicle, Jhajjar KT Transco, is setting up the 400 KV transmission line of 100 km through the public-private partnership route for Haryana Vidyut Prasaran Nigam at a total cost of INR 444 crore. The project financing includes INR 78 crore of capital grant from the government and INR 90 crore of equity contribution from the two joint venture partners. The project also has an additional grant of INR 18 crore for operation and maintenance.

The project is scheduled to be completed in 14 months from the date of financial closure. The SPV will construct and operate the line for the initial concession period of 25 years with options of extension for another 10 years.

(Sourced from Economic Times)