New Delhi, June 11 -- India's largest power producer, NTPC Limited, has raised $750 million through an unsecured External Commercial Borrowing (ECB) syndicated term loan to fund its capital expenditure, furthering its strategic goals in renewable energy and capacity expansion.

The funding was routed through the IFSC Banking Units (IBUs) of Bank of Baroda and HDFC Bank at GIFT City, Gandhinagar - a rising hub for international financial services.

The funds will be used to finance ongoing and new capital projects, including flue gas desulphurisation units, hydro and other renewable energy projects, and for refinancing existing ECBs in line with RBI's ECB guidelines.

Bank of Baroda's Executive Director Lalit Tyagi described the deal as a ...