ILP Ashurst Advises Japan Bank For JBIC On USD 200 Million Loan To NTPC And NTPC Renewables

Indian Law Partners (ILP) & Ashurst recently advised Japan Bank for International Cooperation (JBIC) on USD 200 million Loan to NTPC and NTPC Renewables

Government-owned power giant NTPC and its subsidiary NTPC Renewables Energy Limited has entered into agreements with Japan Bank for International Cooperation (JBIC) for sourcing foreign currency loans of USD 200 million (JPY 30 billion or around Rs 1,650 crore).

JBIC will provide 60% of the facility amount and the balance amount will be provided by other commercial banks.

The facility has been extended under JBIC's initiative entitled 'Global action for Reconciling Economic growth and Environment preservation' ('GREEN') for projects which ensure the conservation of the global environment.

The loan proceeds shall be utilized by NTPC for funding part of its capex requirements for Flue Gas Desulphurization (FGD) which substantially reduces the SOx emission in the flue gases of thermal power stations and is a positive step towards environmental sustainability.

ILP advised JBIC on the Indian law aspects, led by a team of Partners Gopika Pant & Vineet Gupta and assisted by Associates Vinayek Mehra, Aradhana Pillai and Varun Pandey.

 Ashurst Japan led by a team of Partner David Wadham, Senior Associate Akemi Kishimoto and Trainee Solicitor Divya Deivanayagam acted for JBIC as international counsel.