Jhajjar KT Transco achieves fin closure of DBFOT project

SPV Jhajjar KT Transco today said that it has successfully achieved the financial closure of its 1st Design, Built, Finance, Operate and Transfer project (Viability Gap Funding basis) of 400 KV, 100 kilometres power transmission line from Jharli to Bawana project from the Haryana Vidyut Prasaran Nigam Ltd (HVPNL).

Jhajjar KT Transco is a Special Purpose Vehicle (SPV) of Kalpataru Power Transmission Ltd and Techno Electric and Engineering, a Kolkata-headquartered EPC company.

The SPV has secured term debt of Rs 276 crore from a consortium of lenders, a press release issued here stated.

The project has to be completed over a period of 14 months from the date of financial closure.

The SPV has also obtained transmission licence from the Haryana Electricity Regulatory Commission (HERC) to construct and operate this line for an initial concession period of 25 years with options of extension for another 10 years, the release said.

The SPV will receive terminal value equivalent to 20 months revenue (around Rs 100 crore) at the end of the 25th year of concession period in case the concession period does not gets extended to 35-years.