NTPC REL signs its first green term loan agreement for Rs 5 billion

National Thermal Power Corporation Renewable Energy limited ( NTPC REL) a fully-owned subsidiary of state-owned power generator NTPC, has signed its first green term loan agreement for Rs 5 billion. As per the company statement, the loan agreement is at a competitive rate with a tenure of 15 years with the Bank of India for its 470 MW solar projects in Rajasthan and 200 MW in Gujarat. NTPC REL currently has a renewable project portfolio of 3,450 MW, of which 820 MW are under construction and 2,630 MW have been awarded but PPAs have yet to be signed.

In August 2021, NTPC REL had allotted a domestic tender to build India’s first green hydrogen fuelling station in Leh, Ladakh. NTPC REL was also planning to build a separate 1.25 MW solar plant in Leh to make the hydrogen fuelling station completely green. The solar plant contract was expected to be awarded within a month. NTPC REL and NTPC Vidyut Vyapar Nigam Limited (NVVN) would be jointly executing the Green Mobility Project in the Union Territory of Ladakh.

In September 2021, NTPC REL had received a Letter of Award (LoA) for 325 MW of solar power projects at Shajapur Solar Park in Madhya Pradesh. It had won a capacity of 105 MW worth Rs 2.35 per unit, and also a capacity of 220 MW worth Rs 2.33 per unit in the Rewa Ultra Mega Solar’s auction for 450 MW of solar projects at Shajapur Solar Park in Madhya Pradesh. With this, NTPC achieved 4.4 GW capacity through tariff-based competitive bidding.

 

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