Tata Power plans to raise up to Rs 2,000 cr via bonds to finance biz ops

Tata Power's gross debt marginally rose to Rs 49,535 crore as of September this year, from Rs 47,590 crore as of March

Private power generation company Tata Power Company (TPCL) is planning to raise up to Rs 2,000 crore via bonds for financing its business operations.

It has, meanwhile, tied up Rs 450 crore ($50 million) of sustainable trade finance from Japanese banking institution MUFG (Mitsubishi UFJ Financial Group) for renewable energy projects.

TPCL’s gross debt marginally rose to Rs 49,535 crore as of September this year, from Rs 47,590 crore as of March. This is on account of increased borrowing in renewable businesses, Odisha power distribution companies, and coal special purpose vehicles.

CRISIL Ratings has assigned ‘AA/stable’ rating to the proposed