NTPC signs aggrement with Japan’s JBIC for Rs 1,650 crore funding
The loan proceeds shall be utilized by NREL for funding its capex for renewable energy projects which would facilitate its mission for providing reliable, affordable and sustainable energy.
State-owned power giant NTPC on Tuesday said it has inked a pact with a Japanese agency for sourcing foreign currency loans of USD 200 million (JPY 30 billion or around Rs 1,650 crore).
Japan Bank for International Cooperation (JBIC), a government policy-based financial institution, will provide 60 per cent of the facility amount and the balance amount will be provided by other commercial banks under JBIC guarantee, a statement said.
The agreements have been signed for a JPY 15 billion loan each for NTPC Ltd and NTPC Renewables Energy Ltd (NREL), it added.
The facility has been extended under JBIC’s initiative entitled Global action for Reconciling Economic growth and Environment preservation’ (GREEN) for projects which ensure the conservation of the global environment..
The loan proceeds shall be utilized by NTPC for funding part of its capex requirements for Flue Gas Desulphurization (FGD) which substantially reduces the SOx emission in the flue gases of thermal power stations and is a positive step towards environmental sustainability, it stated.
This is the second loan for NTPC under JBIC’s GREEN operations in India.
The loan proceeds shall be utilized by NREL for funding its capex for renewable energy projects which would facilitate its mission for providing reliable, affordable and sustainable energy.
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First Published: Mar 26 2024 | 10:46 PM IST