According to Sources, Reliance Power Ltd (RPower), the Reliance Group (ADAG) company is currently approaching banks and financial institutions of United States and China to raise funds for its UMPPs Chitrangi and Tilaiya.
As found by Spark, some of the Chinese banks have already funded $1.1 Bn for the Sasan project.
Overseas debt will be cheaper for RPower as the interest rates of Indian Lenders have been increased sharply due to the RBI’s 13 consecutive rate hikes in two yeas time.
As RPower, buys and will buy equipments from US and Chine, it will help in securing loans from these countries.
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