NTPC signs loan deal with Japanese government
The loan agreement was signed by Shri Anil Kumar Gautam, Director (Finance), NTPC and Mr. TANIMOTO Masayuki, Managing Director, Global Head of Infrastructure and Environment Finance Group, JBIC via videoconference.
Shri Anil Kumar Gautam, Director (Finance), NTPC and Mr. TANIMOTO Masayuki, Managing Director, Global Head of Infrastructure and Environment Finance Group (PSU Connect)
New Delhi: NTPC Limited signs foreign exchange loan agreement with Japanese government financial institution for JPY 50 billion under GREEN initiative
The proceeds from the loan will be used by NTPC to finance its capital expenditure for the flue gas desulphurization (FGD) and RE project. As part of NTPC Ltd’s first funding under the GREEN initiative or Global Action for Reconciling Economic Growth and Environment Preservation of the Japan Bank for International Co-operation (JBIC), India’s largest electricity producer has concluded today a foreign currency loan agreement with the Japanese government financial institution for 50 billion JPY (approximately 482 million USD or 3,582 crore Rs.).
JBIC will provide 60% of the amount of the facility and the balance will be paid by commercial banks (i.e., Sumitomo Mitsui Banking Corporation, Bank of Yokohama Ltd., San-In Godo Bank Ltd., Joyo Bank Ltd. and The Nanto Bank Ltd.), under JBIC guarantee.
The proceeds of the loan will be used by NTPC Ltd, to finance its investments for flue gas desulphurization (FGD) and renewable energy projects. FGD significantly reduces SOx emissions in thermal power plant flue gases and is a critical step towards environmental sustainability.
The loan agreement was signed by Shri Anil Kumar Gautam, Director (Finance), NTPC and Mr. TANIMOTO Masayuki, Managing Director, Global Head of Infrastructure and Environment Finance Group, JBIC via videoconference.
Publication date : 28-10-20