NHPC Limited, India’s biggest hydropower utility has secured a foreign currency loan of JPY 20.00 billion from the Japan Bank for International Cooperation (JBIC) for implementation of renewable energy (RE) projects.
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The RE projects include a 300 MW solar power project in Bikaner being developed under the CPSU 1000 MW Scheme, wherein Central Public Sector Undertakings (CPSUs) implement grid connected solar projects with a viability gap funding (VGF) offered by the Centre. The scheme was launched in January 2015.
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“This is a first of its kind loan syndication by NHPC with JBIC for financing of renewable energy project. JBIC’s loan is co-financed with MUFG Bank Ltd., Japan and Bank of Yokohama Ltd., Japan,” NHPC said in a statement on March 28.
The facility is extended under JBIC’s GREEN Operations (Global Action for Reconciling Economic growth and Environment Preservation) which ensures preservation of global environment.
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The loan agreement was signed by Executive Director (Finance), NHPC and Ryuta Suzuki, Director General, New Energy and Power Finance Department II, JBIC in the presence of RP Goyal, CMD and Director (Finance), Uttam Lal, Director (Personnel) and RK Chaudhary, Director (Technical & Projects) at NHPC Corporate Office on 28th March 2024, the company said.
