Companies

NTPC enters ₹3,582-cr foreign currency loan agreement with JBIC

Our Bureau New Delhi | Updated on October 28, 2020

Loan proceeds to fund NTPC’s capital expenditure for flue-gas desulphurisation and renewable energy projects

NTPC Limited has entered a ₹3,582-crore foreign currency loan agreement with the Japan Bank for International Co-operation (JBIC). This is under JBIC’s GREEN or Global Action for Reconciling Economic growth and Environment preservation initiative, an official statement said.

The statement also said that the loan proceeds will be utilised by NTPC for funding its capital expenditure for flue-gas desulphurisation (FGD) and renewable energy projects. This agreement with the Japanese Government’s financial institution is for JPY 50 billion (approximately $482 million or ₹3,582 crore).

NTPC: A power giant that has re-energised itself

“JBIC will provide 60 per cent of the facility amount and the balance will be given by commercial banks (namely the Sumitomo Mitsui Banking Corporation, the Bank of Yokohama Limited, the San-In Godo Bank Limited, the Joyo Bank Limited and The Nanto Bank Limited), under JBIC guarantee,” the statement said.

The facility is extended under JBIC’s outreach for projects that ensure conservation of the global environment. FGD is expected to substantially reduce sulphur emissions in the flue gases of thermal power plants and is a critical step towards environmental sustainability, the statement added.

Published on October 28, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor