NTPC Green Energy to raise up to Rs 9,000 cr term loan

New Delhi, Feb 21 (PTI) NTPC arm NTPC Green Energy Ltd (NGEL) has invited bids for rupee denominated term loan of up to Rs 9,000 crore.

The bid document showed that NGEL intends to raise fresh debt and repay outstanding liability of Rs 8,200 crore towards NTPC by March 31, 2023 along with applicable interest cost.

Also, additional funds to the tune of Rs 800 crore would be required for additional debt liability and for balance capex payments of projects which are yet to achieve full commercial operations, it stated.

Thus, NGEL has invited offer for rupee term loan of up to Rs 9,000 crore, it said.

The minimum amount of loan offered by banks/FIs (financial institutions) shall be Rs 1,000 crore and in multiples of Rs 500 crore thereafter, it stated.

The last date for submission of bids is March 6, 2023.

NTPC had incorporated NGEL in April 2022 for consolidating its renewable energy businesses and aggressively pursue its green/ sustainable energy venture.