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NHPC, a state-owned hydropower giant has signed a loan agreement of JPY 20 billion (around ₹1,100 crore) with Japan Bank for International Cooperation (JBIC) to develop a 300 MW solar project in Bikaner, Rajasthan. This is the first kind of loan syndication by NHPC with JBIC for the financing of renewable energy project, the company mentioned ina statement.
According to the statement, JBIC's loan is co-financed with MUFG Bank Ltd, Japan and Bank of Yokohama Ltd, Japan. NHPC has secured a foreign currency loan of JPY 20 billion from JBIC for the implementation of renewable projects, including a 300 MW solar power project, Bikaner, it stated.
The senior officials of NHPC and JBIC has signed the loan agreement. The facility is extended under JBIC's GREEN Operations (Global Action for Reconciling Economic Growth and Environment Preservation), which ensures the preservation of the global environment.
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