NHPC Secures JPY 20 Billion Loan from JBIC for 300 MW Solar Project in Bikaner

14 May 2024

The state-owned hydropower corporation NHPC announced on Thursday that it has signed a loan agreement worth JPY 20 billion (approximately Rs 1,100 crore) with the Japan Bank for International Cooperation (JBIC) for the development of a 300 MW solar project in Bikaner, Rajasthan. This is the first type of loan syndication by NHPC with JBIC for the financing of renewable energy projects, according to a company statement.

The statement claims that Bank of Yokohama Ltd. and MUFG Bank Ltd., both in Japan, are co-financing JBIC's loan. It stated that NHPC has obtained a JPY 20 billion foreign currency loan from JBIC for the execution of renewable projects, one of which is a 300 MW solar power project in Bikaner.

The senior officials of NHPC and JBIC signed the loan agreement. The extension of the facility is made possible by JBIC's GREEN Operations (Global Action for Reconciling Economic Growth and Environment Preservation), which aims to protect the environment worldwide.