State-owned power giant NTPC has finalized an agreement with the Japan Bank for International Cooperation (JBIC) to obtain foreign currency loans totaling USD 200 million (JPY 30 billion or approximately Rs 1,650 crore). This financing arrangement signifies a significant step in NTPC’s endeavor to augment its renewable energy initiatives.
Loan Details
- Amount: USD 200 million (JPY 30 billion)
- Financer: Japan Bank for International Cooperation (JBIC)
- Distribution: JBIC to provide 60% of the loan, with the remaining balance sourced from other commercial banks.
- Purpose: The loan is earmarked to support a portion of NTPC’s capital expenditure requirements for renewable energy projects.
Impact
- NTPC’s Renewable Expansion: This loan will enable NTPC to accelerate its renewable energy projects, thereby contributing to India’s renewable energy targets and sustainable development goals.
- JBIC’s GREEN Operations: Notably, this marks the second loan extended to NTPC under JBIC’s GREEN operations in India, reflecting a continued partnership in promoting environmentally sustainable initiatives.
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