NHPC inks agreement with Japan's JBIC for around Rs 1,100 crore loan

State-owned hydropower giant NHPC on Thursday said it has inked a loan agreement of JPY 20 billion (around Rs 1,100 crore) with Japan Bank for International Cooperation (JBIC) for developing 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, a company statement said.

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 loan agreement was signed by the senior officials of NHPC and JBIC.

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.