NTPC Inks Rs 3,582 Cr Loan Pact with JBIC for Flue Gas Desulphurization, Renewable Energy Proj

Under GREEN initiative, NTPC Ltd, which is the country’s largest power producer, has signed Rs 3,582 crore (JPY 50 billion or USD 482 million) foreign currency loan agreement with Japanese Government’s financial institution Japan Bank for International Co-operation (JBIC).

October 29, 2020. By Manu Tayal

Under GREEN initiative, NTPC Ltd, which is the country’s largest power producer, has signed Rs 3,582 crore (JPY 50 billion or USD 482 million) foreign currency loan agreement with Japanese Government’s financial institution Japan Bank for International Co-operation (JBIC).

This is the first funding for NTPC under JBIC’s GREEN or Global Action for Reconciling Economic growth and Environment preservation initiative.

As per the agreement signed, JBIC will provide 60 per cent of the facility amount and the balance will be given by commercial banks (viz., Sumitomo Mitsui Banking Corporation, the Bank of Yokohama Ltd., the San-In Godo Bank Ltd., the Joyo Bank Ltd. and The Nanto Bank Ltd.), under JBIC guarantee.

Moreover, this facility has been extended under JBIC’s outreach for projects, which ensure conservation of global environment.

Further, the loan proceeds will be utilized by NTPC, the PSU under Ministry of Power, for funding its capex for Flue Gas Desulphurization (FGD) and Renewable Energy projects.

FGD, substantially reduces the SOx emission in the flue gases of thermal power plants and is a critical step towards environmental sustainability.

The loan agreement was signed by Anil Kumar Gautam, Director (Finance), NTPC and TANIMOTO Masayuki, Managing Executive Officer, Global Head of Infrastructure & Environment Finance Group, JBIC through video conferencing.

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