New delhi, June 11 -- State-owned power giant NTPC raised USD 750 million through External Commercial Borrowing (ECB) to fund its business expansion.
Bank of Baroda acted as the lead arranger and underwriter of the syndicated term loan facility.
The proceeds of the facility will be utilised towards financing of NTPC's capital expenditure for existing or new capacity addition programmes, a joint statement said.
The capex includes flue gas desulphurisation projects, and renewable energy projects.
Besides, it can be used for refinancing of existing External Commercial Borrowing for capital expenditure purposes to the extent the same is in compliance with the end-use or other requirements, as permitted under the ECB Guidelines of RBI.
Jaikumar Srinivasan, Director (Finance), NTPC Limited stated: "The company is spearheading a transformative expansion of its energy portfolio, with a strategic vision to achieve 60 GW of renewable capacity by 2032 and elevate its total installed capacity from 80 GW to 130
GW+."
Published by HT Digital Content Services with permission from Millennium Post.