NTPC Green Energy Limited (NGEL), the arm of NTPC, has invited bids for term loan of rupee denomination up to ₹9,000 crore.
The bid document revealed that NGEL intends to service and repay the outstanding liability of ₹8,200 crore to NTPC by March 31, 2023, with applicable interest cost up to March 31, 2023.
Also, additional funds to the tune of ₹800 crore will be required for additional debt obligations and for remaining capex payments of projects which are yet to achieve full commercial operation.
Thus, NGEL has invited proposals for up to Rs.9,000 crore term loan of Rs.
It said that the minimum amount of loan to be given by banks/FIs (financial institutions) would be Rs 1,000 crore and thereafter in multiples of Rs 500 crore.
The last date for bid submission is March 6, 2023.
NTPC on-boarded NGEL in April 2022 to strengthen its renewable energy businesses and aggressively pursue its green/sustainable energy venture.