Khaitan & Co assists HDFC Bank on ~₹520 crore financing to Nangalbibra-Bongaigaon Transmission

Khaitan & Co advised HDFC Bank on sanctioning financial assistance of an amount not exceeding ₹520 crore to Nangalbibra-Bongaigaon Transmission Limited for the purpose of inter-alia refinancing of existing project lenders for the operation and maintenance of power transmission systems between Bongaigaon – Nangalbibra.

The transaction team consisted of Dr Siddharth Srivastava (Partner), Raunak Singh Rahangdale (Principal Associate) and Aparna Tripathi (Principal Associate).

Nangalbibra-Bongaigaon Transmission Limited is a special purpose vehicle (SPV) owned by Sterlite Power. This funding is designated for refinancing existing project loans and supporting the operation and maintenance of the power transmission systems between Bongaigaon in Assam and Nangalbibra in Meghalaya.

The Nangalbibra-Bongaigaon Transmission Project encompasses approximately 300 circuit kilometers of transmission lines and a greenfield substation with a 320 MVA transformation capacity. The project aims to transmit over 1,000 MW of power from Assam to the western parts of Meghalaya, thereby enhancing the power infrastructure in the region.

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