NTPC REL SIGNED ITS FIRST FIRST GREEN TERM LOAN AGREEMENT WITH BOI

NTPC REL SIGNED ITS FIRST FIRST GREEN TERM LOAN AGREEMENT WITH BOI

Context:

On 29th September 2021, NTPC Renewable Energy Ltd (REL) a 100% subsidiary of NTPC Ltd, signed its 1st Green Term Loan agreement with the Bank of India (BOI).

About the Agreement:

• The agreement is of Rs. 500 crores at a very competitive rate with a tenor of 15 years with Bank of India for its 470 MW Solar Projects in Rajasthan & 200 MW Solar Project in Gujarat.

Current Project of NTPC REL:

• Currently, it has a renewable project portfolio of 3,450 MW of which 820 MW projects are under construction and 2,630 MW projects have been won for which PPAs are pending to be executed.

NTPC Limited:

• It is formerly known as National Thermal Power Corporation Limited, is an Indian statutory corporation.
• It is engaged in the generation of electricity and allied activities.
• It is a statutory corporation incorporated under the Companies Act 1956.
• It is under the jurisdiction of the Ministry of Power, Government of India.
• It is headquartered in New Delhi.
• NTPC's function is the generation and distribution of electricity to State Electricity Boards in India.