Vedanta Power’s guaranteed long-term bank facilities have been upgraded to CRISIL AA+ (CE)/Stable following the Vedanta Group’s successful demerger.
MUMBAI (India CSR): Vedanta Power, one of India’s leading private thermal power producers, has secured a CRISIL rating upgrade with the rating agency removing the Company from ‘Rating Watch with Developing Implications’, upgrading its guaranteed long-term bank facilities to CRISIL AA+ (CE)/Stable from CRISIL AA (CE), while reaffirming its standalone long-term rating at CRISIL AA-/Stable and short-term rating at CRISIL A1+.
The rating action follows the successful completion of the Vedanta Group’s demerger and reflects Vedanta Power Limited’s strengthened credit profile, diversified thermal power portfolio, healthy liquidity position and strategic importance CRISIL also recognised the Company’s robust operating performance, long-term Power Purchase Agreements (PPAs), secure fuel supply arrangements and continued financial flexibility.
Today, Vedanta Power Limited operates a diversified portfolio comprising the Vedanta Power Talwandi Sabo Thermal Plant (1,980 MW) in Punjab, Vedanta Power Jharsuguda Thermal Plant (600 MW) in Odisha, Vedanta Power Meenakshi Energy Limited (1,000 MW) in Andhra Pradesh and the Vedanta Power Sakti Thermal Plant (600 MW) in Chhattisgarh. The Company’s generation portfolio is expected to strengthen further with the commissioning of an additional 600 MW unit at the Vedanta Power Sakti Thermal Plant during the current fiscal.
CRISIL highlighted Vedanta Power’s strong business profile, underpinned by a diversified generation portfolio, long-term and medium-term PPAs, fuel supply agreements covering the majority of its operational capacity, healthy liquidity and the continued financial flexibility.. The rating agency also noted that post-demerger structure provides greater strategic focus and enhanced financial flexibility across its businesses.
The latest rating action reinforces Vedanta Power’s evolution into a diversified thermal power producer with strategically located assets across India and reflects the Company’s continued focus on operational excellence, prudent financial management and long-term value creation.
Vedanta Power remains committed to strengthening India’s energy security through reliable, efficient and responsible power generation while creating long-term value for customers, partners and stakeholders.
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