NTPC REL signs its first ever Green term Loan with the Bank of India

NTPC REL (NTPC Renewable Energy Ltd) has signed its first Green Term Loan agreement of Rs 500 crores at a very competitive rate with a 15-year tenure with the Bank of India for its two solar power projects.

While the first 470 MegaWatt solar power project is in Rajasthan, the second 200 MegaWatt power project is in Gujarat, said a senior officer of the Power Ministry here on Thursday.

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NTPC REL, a 100% subsidiary of NTPC, currently has a renewable project portfolio of 3,450 MW of which 820 MW projects are under construction and 2,630 MW projects have been won for which PPAs (Power Purchase Agreement) is pending to be executed, the Ministry stated.