JSW Group is planning to raise Rs 2,200 crore through bank loans to fund 450 MW wind power unit in Tamil Nadu.
JSW Renew Energy Two (JRETL), a subsidiary of JSW Future Energy is setting up power plants at Tuticorin and Dharapuram in the state. JSW Future Energy is owned by JSW Energy. The project is scheduled to be finished by 31 March 2023.
The proposed term loan is repayable in over 70 structured quarterly instalments, starting after 12 months from the completion or commissioning date, whichever is earlier. The interest rate on the term loan is floating, exposing the cash flows to interest rate risk.