NTPC Green Energy Seeks Bids for Up to INR 9,000 Crore Term Loan
NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC, has announced that it is seeking bids for a term loan denominated in Indian rupees of up to INR 9,000 crore.
The company plans to use the funds to raise fresh debt and repay its outstanding liability of INR 8,200 crore to NTPC by March 31, 2023, along with applicable interest costs. An additional INR 800 crore is also needed for debt liabilities and capital expenditures for ongoing projects.
Interested financial institutions can submit bids starting at a minimum of INR 1,000 crore and in multiples of INR 500 crore. The bidding period will end on March 6, 2023.
NGEL was established in April 2022 to consolidate NTPC’s renewable energy businesses and to expand its green and sustainable energy portfolio. With this term loan, the company aims to accelerate its efforts towards achieving its green energy goals.
NTPC (National Thermal Power Corporation) Ltd along with its subsidiaries/ associates & JVs is primarily involved in generation and sale of bulk power to State power utilities. Other business of the group includes providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining.
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