NTPC Green Energy to raise Rs 9,000 crore term loan

21 Feb 2023 , 03:06 AM

NTPC Green Energy Ltd (NGEL), an NTPC subsidiary, has invited bids for a rupee-denominated term loan of up to Rs 9,000 crore. 

According to the bid document, NGEL intends to raise new debt and repay an outstanding liability of Rs 8,200 crore to NTPC by March 31, 2023, plus applicable interest costs.

Additionally, it stated that additional funds to the tune of Rs800 crore would be required for additional debt liability and balance capex payments of projects that have yet to achieve full commercial operations.

The minimum loan amount offered by banks/FIs (financial institutions) shall be Rs1,000 crore, followed by multiples of Rs500 crore.

The company stated that deadline for bid submissions is March 6, 2023.

In April 2022, NTPC established NGEL to consolidate its renewable energy businesses and aggressively pursue its green/sustainable energy venture.

Following this development, NTPC was trading 3.22% higher at Rs173.30, against the previous close of Rs167.90 on NSE. The counter hit an intraday high and low of Rs174.25 and Rs169.05 respectively.

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