Current focus is to complete under-construction projects: KVB Reddy

Interview with KVB Reddy, CEO, Essar Power

Essar Power plans to raise Rs 4,600 crore debt to complete its two under-construction projects in Jharkhand and Odisha. The company is already saddled with a debt load of Rs 20,000 crore with lenders delaying funds for the Tori project and feels that the interest rate on several stranded projects should be brought down. Apart from focusing on operational efficiency to service debt, the company senses an opportunity in the lack of fresh investments in thermal power and the government’s notification on mega power projects to improve offtake. KVB Reddy, chief executive officer, Essar Power talks to Jayajit Dash on