Saturday, July 14, 2018

NTPC signs Rs 1,500 crore term loan with HDFC Bank; 250 MW solar project dedicated to nation in MP

INDIA's largest electricity generating company, today said it has signed a term loan agreement with HDFC Bank for availing a loan of Rs 1,500 crore. The 15-year loan will bear an interest rate linked to 3-months MCLR of the bank, the company said in a statement. "This loan has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC," it said.
The loan agreement was signed by NTPC General Manager (Finance) A K Gautam and HDFC Bank Regional Head for Corporate Banking Raveesh Bhatia on July 10.
Earlier, the Maharatna PSU’s 250 MW solar project in...
Suwasra district Mandsaur, Madhya Pradesh was dedicated to the nation by Shivraj Singh Chauhan, CM, Madhya Pradesh on July 11. This project has been set up by NTPC at an investment of approx. Rs 1500 Cr mainly on non-agricultural land and Generation of Electricity have been achieved without affecting the natural eco-system with zero carbon emission, NTPC said in a statement. Under the Make in India Initiative this is one of the biggest solar plant developed using domestically manufactured Solar Cells and Modules. The Project has been commissioned in June 2017 and generated Electricity is getting dispatched for consumption in MP, the sole beneficiary.
NTPC is India’s largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India. Since then it has established itself as the dominant power major with presence in the entire value chain of the power generation business. From fossil fuels it has forayed into generating electricity via hydro, nuclear and renewable energy sources. This foray will play a major role in lowering its carbon footprint by reducing greenhouse gas emissions. To strengthen its core business, the corporation has diversified into the fields of consultancy, power trading, training of power professionals, rural electrification, ash utilisation and coal mining as well.
NTPC was ranked 431st in the ‘2015, Forbes Global 2000’ ranking of the World’s biggest companies. The total installed capacity of the company is 45,548 MW (including JVs) with 18 coal based and 7 gas based stations. 7 Joint Venture stations are coal based and 8 renewable energy projects. The company has set a target to have an installed power generating capacity of 1,28,000 MW by the year 2032.

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