NHPC Limited, India’s leading hydro power utility, has inked a significant deal securing a Foreign Currency Loan of JPY 20.00 Billion from Japan Bank for International Cooperation (JBIC), Japan. The loan is earmarked for the implementation of a renewable project, notably a 300 MW Solar power Project in Bikaner, under the CPSE 1000 MW Scheme.
The momentous loan agreement was formally signed at the NHPC Corporate Office on 28th March 2024. Executing the agreement were NHPC’s Executive Director (Finance) alongside Shri Ryuta Suzuki, Director General of New Energy and Power Finance Department II, JBIC. The auspicious occasion was graced by the presence of NHPC’s CMD and Director (Finance), Shri R.P. Goyal, Director (Personnel) Shri Uttam Lal, and Director (Technical & Projects) Sh. R.K. Chaudhary.
This collaboration marks NHPC’s pioneering foray into loan syndication with JBIC for financing a renewable energy project, underscoring its commitment to sustainable energy initiatives. Notably, JBIC’s loan is co-financed with MUFG Bank Ltd., Japan, and Bank of Yokohama Ltd., Japan.
The loan facility falls under JBIC’s GREEN Operations (Global Action for Reconciling Economic growth and Environment Preservation), emphasizing the global imperative of environmental conservation. NHPC’s endeavor in securing this funding signifies a strategic step towards fostering green energy solutions and underscores its role as a catalyst in India’s renewable energy landscape.
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