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Business News/ Companies / News/  NTPC Green Energy to raise up to 9,000 crore in term loan
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NTPC Green Energy to raise up to ₹9,000 crore in term loan

The amount will be used to repay debt obligations towards NTPC against acquisition of 15 RE assets and further capex for these assets

NTPC Green Energy to raise up to ₹9,000 crore in term loan. (Photo: Getty Images/iStock)Premium
NTPC Green Energy to raise up to 9,000 crore in term loan. (Photo: Getty Images/iStock)

New Delhi: NTPC Green Energy Ltd (NGEL), a subsidiary of India’s largest power utility NTPC, has invited bids for rupee denominated term loan of up to 9,000 crore. NGEL intends to raise fresh debt and repay outstanding liability of 8,200 crore towards NTPC by 31 March, along with applicable interest cost along with applicable interest cost, as per the bid document.

Also, additional funds to the tune of 800 crore will be required for additional debt liability and for balance capex payments of projects which are yet to achieve full commercial operations, the company said in a release.

The minimum amount of loan offered by banks/FIs (financial institutions) shall be 1,000 crore and in multiples of 500 crore thereafter, it added.

The last date for submission of bids is 6 March 2023.

The amount will be used to repay debt obligations towards NTPC against acquisition of 15 RE assets and further capex for these assets, the company said.

NTPC had incorporated NGEL in April 2022 for consolidating its renewable energy businesses and aggressively pursue its green/ sustainable energy venture.

NGEL aims to be the flag-bearer of NTPC’s renewable energy journey with a rapid capacity enhancement reaching to ~12 GW operational capacity by FY25 on a consolidated basis and further scale up to achieve the larger target of 60 GW by FY32.

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Published: 21 Feb 2023, 01:30 PM IST
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