New Delhi, Feb 15 (PTI) State-owned power giant NTPC plans to raise term loan of USD 750 million (about Rs 6,213 crore) in Japanese Yen (JPY) denomination to finance its capital expenditure on new and ongoing projects.

The company has sought bids for the JPY loan, which is to be raised through External Commercial Borrowing route.

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According to a bid document, the term loan would be for USD 150 million with green shoe option of USD 600 million.

It also stated that the proceeds of the loan will be utilised for capital expenditure for ongoing/new capacity additions programme, renewable energy projects, including hydro, coal mining and refinancing of existing ECB/Rupee loan availed domestically for CAPEX (capital expenditure) etc.

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The last date for submission of bids is March 1, 2023 and proposals would be opened the same day.

NTPC is the largest power generating company in India. It occupies a dominant position in the domestic power sector with presence in the entire value chain of the power generation business.

In a BSE filing, it stated that consequent upon successful commissioning, third part capacity of 50 MW out of 300 MW Nokhra Solar PV Project at Bikaner, Rajasthan, is declared on Commercial Operation with effect from February 16, 2023.

The first part capacity of 100 MW has already been declared on commercial operation with effect from December 20, 2022 and second part capacity of 50 MW with effect from December 30, 2022.

With this, it stated that standalone installed and commercial (power generation) capacity of the NTPC will become 58,979 MW & 58,319 MW respectively, while group installed and commercial capacity of NTPC (along with joint ventures and arms) will become 71,594 MW & 70,934 MW respectively.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)