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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on March 26 a loan agreement amounting to up to JPY15 billion, of which JBIC’s portion is JPY9 billion, with NTPC Limited (NTPC), India’s state-owned power generation company. The loan is co-financed with Sumitomo Mitsui Banking Corporation and the Bank of Yokohama, Ltd. JBIC will also provide a guarantee for the portion co-financed by the private financial institutions.
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This loan is intended to provide NTPC with the necessary funds for the installation of environmental equipment at power plants in India
*1 as part of GREEN operations
*2.
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The government of India pledged on the country's Independence Day in August 2021 that India will become "energy independent" by 2047 and it set a goal to achieve 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 as its Nationally Determined Contribution (NDC), an action plan to address climate change under the Paris Agreement. With its National Electricity Plan 2022-32, a roadmap based on NDC, it is strengthening the introduction of environmental measures, including the installation of environmental equipment at existing power plants as a measure against serious air pollution.
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NTPC, India’s largest state-owned power generation company, has a significant impact on climate change measures and environmental improvement projects led by the government of India. With this financing, JBIC supports efforts made by the government of India and NTPC to preserve the global environment.
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As Japan’s policy-based financial institution, JBIC will continue to support global environmental preservation efforts by drawing on its various financial facilities and schemes and by performing its risk-assuming function.
