Udupi Power, Krishnapatnam Port to get Rs 9,500 cr recast under 5/25

Lenders to Udupi Power Corporation and Krishnapatnam Port have refinanced a combined Rs 9,500 crore using the Reserve Bank of India’s (RBI) 5/25 scheme, bankers familiar with the development told FE. In the case of Krishnapatnam Port, repayment terms for Rs 4,600 crore have been tweaked while for Udupi Power, these have been reworked for loans of Rs 4,900 crore.

Interestingly, a set of new banks has joined the existing consortium, allowing banks to protect their net present value without raising the existing interest rate, as per RBI rules.

Udupi Power is located in Karnataka, 35 km north of Mangaluru. The plant was bought from Lanco Infra by Adani Power in August last year at an enterprise value of Rs 6,000 crore.

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Amit Antil

After doing Power Management (MBA) from National Power Training Institute (NPTI), Amit Antil is now presently working with Today Green Energy Pvt. Ltd. and looking after business development activities for Solar. Earlier he was associated with leading power trading company Global Energy for 3 years. He has a sound knowledge about bidding, power trading, open access, REC trading, Govt. Liaisoning, Contract Negotiation, Power Purchase Agreement.

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