Kolkata, Oct 28 (UNI) In the first funding for NTPC Ltd under Japan Bank for International
Co-operation (JBIC)’s GREEN or Global Action for Reconciling Economic growth and
Environment preservation initiative, India’s largest power producer today entered into
foreign currency loan agreement with Japanese Government’s financial institution for
JPY 50 billion (approx. USD 482 million or Rs. 3,582 crore).
JBIC will provide 60% 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.
The facility is extended under JBIC’s outreach for projects, which ensure conservation
of global environment. The loan proceeds shall be utilized by NTPC for funding its capex
for Flue Gas Desulphurization (FGD) & 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.
UNI BM SJC