Adani Power consolidates short-term loans worth Rs 19,700 crore into a single long-term debt, benefiting from uniform tenure and reduced interest rates. The move follows the amalgamation of six special purpose vehicles (SPVs) under a consortium financing arrangement with eight lenders, made possible after Adani Power’s credit rating was enhanced to AA-. In a separate development, Adani Power’s subsidiary, Mahan Energen Limited (MEL), signs a 20-year power purchase agreement with Reliance Industries Limited (RIL) for the supply of 500 MW of electricity. RIL will invest Rs 50 crore for a 26% ownership stake in MEL’s designated captive unit, subject to customary approvals.