NTPC Green Energy to raise up to ₹9,000 cr term loan

NTPC Green Energy to raise up to ₹9,000 cr term loan

The bid document showed that NGEL intends to raise fresh debt and repay outstanding liability of Rs 8,200 crore towards NTPC by March 31, 2023 along with applicable interest cost

FPJ Web DeskUpdated: Tuesday, February 21, 2023, 04:05 PM IST
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NTPC Green Energy to raise up to ₹9,000 cr term loan | Image: NTPC (Representative)

NTPC Green Energy Ltd (NGEL), an NTPC subsidiary, has invited bids for a rupee-denominated term loan of up to Rs 9,000 crore.

The bid document showed that NGEL intends to raise fresh debt and repay outstanding liability of Rs 8,200 crore towards NTPC by March 31, 2023 along with applicable interest cost.

It also stated that additional funds of Rs 800 crore would be required for additional debt liability and balance capex payments of projects that have yet to achieve full commercial operations.

Hence, NGEL said it has requested offers for a term loan denominated in rupees of up to Rs 9,000 crore.

It said that banks and FIs (financial institutions) must issue loans in multiples of Rs. 500 crore at first and at least Rs. 1,000 crore thereafter.

The deadline for proposal submissions is March 6, 2023.

In order to consolidate its renewable energy companies and pursue its green/sustainable energy endeavour aggressively, NTPC had established NGEL in April 2022.

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