NTPC Green Arm Signs First Green Term Loan Worth 500 Cr

NTPC Renewable Energy ltd (REL), a 100 per cent subsidiary of NTPC ltd, has signed its first green term loan agreement of Rs. 500 crores at a very competitive rate with a tenor of 15 years with Bank of India on September 29, 2021, for its 470 MW solar projects in Rajasthan & 200 MW solar project in Gujarat.

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NTPC REL currently has 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.

In July this year, the company invited a domestic tender to set up India’s first green hydrogen fuelling station in Leh, Ladakh.  The tender follows the recent tender floated by NTPC Vidyut Vyapar Nigam Limited (NVVN) for procurement of Fuel Cell Buses for Ladakh. NTPC REL and NVVN would be jointly executing the Green Mobility Project in Union Territory of Ladakh. A dedicated 1.25 MW solar plant is also being set up in Leh by NTPC REL to make the hydrogen fuelling station completely green.

The same month, another major revelation was made by NTPC REL when it announced that it would now set up India’s single-largest solar photovoltaic project at Rann of Kutch at Khavada in Gujarat. NTPC REL aims to produce green hydrogen using the power generated from the park. The announcement came barely a month after the state owned power major announced a doubling of its renewable energy targets from 30 GW to 60 GW by 2032.

Of late, state-owned NTPC has been starting the groundwork for the IPO of its units NTPC Vidyut Vyapar Nigam Ltd (NVVN) and NTPC Renewable Energy Ltd (NTPC REL), with merchant bankers making preliminary presentations. NVVN and NTPC REL are expected to be among the first clean energy firms to list on domestic bourses.

For the quarter ended 30-06-2021, NTPC reported a consolidated total income of Rs 30,390.60 crores, down 4.09% from last quarter total income of Rs 31,687.24 crores and up 13.42% from last year same quarter’s total income of Rs 26,794.68 crores.

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Soumya Duggal

Soumya is a master's degree holder in English, with a passion for writing. It's an interest she has directed towards environmental writing recently, with a special emphasis on the progress being made in renewable energy.