After the successful recast of debt for the 1,350 MW Amravati power plant, RattanIndia Power, backed by Aditya Birla ARC and Varde Partners, is in talks with a consortium of lenders led by PFC for the recast of around Rs 7,100-crore debt of its thermal power plant at Nashik in Maharashtra.
The company is also in talks with Maharashtra Generation Company (Mahagenco) and a few other “marquee” investors for equity participation in the asset, according to sources. A senior company official told FE that the company was looking for Rs 500 crore of working capital and Rs 200 crore of bank guarantee from its existing set of lenders to start the 1,350 MW power plant and sign the power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL).
