New Delhi: India’s largest power utility, NTPC Limited, has successfully raised USD 750 million through an External Commercial Borrowing (ECB) facility to fund its ongoing and future capital expenditure initiatives, the company announced on Wednesday.
The syndicated term loan facility was arranged and underwritten by Bank of Baroda, acting as the lead arranger. The funds will be channelled into NTPC’s capacity expansion programmes, which include both ongoing and upcoming projects.
According to a joint statement, the loan proceeds will primarily support capital expenditure on flue gas desulphurisation systems and renewable energy projects, including hydro-based initiatives. Additionally, the funds may be used to refinance existing ECBs, provided the utilisation aligns with the Reserve Bank of India’s ECB Guidelines.
Commenting on the development, Jaikumar Srinivasan, Director (Finance), NTPC Limited, said, “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 over 130 GW.”
The fund raise marks a significant step in NTPC’s transition towards a more sustainable and diversified energy mix in line with India’s long-term climate goals.
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