State-run National Thermal Power Corporation (NTPC Ltd) has tied up a loan facility for €55 million with German developmental financial institution KfW to part finance the capital expenditure of its Mouda thermal power project in Maharashtra.
“An agreement to this effect was signed today by G.K. Sadhu, executive director (finance), on behalf of NTPC with KfW for €55 million (about Rs.467 crore),” NTPC said in a statement on Wednesday. The facility has a door-to-door maturity of 12 years, including availability period of four years.
The loan is on a standalone basis without sovereign guarantee, the statement said, adding that KfW had in the past provided financial support to NTPC’s renovation and modernization and emission reduction schemes.
The company on Wednesday also signed financing agreement with KfW-Germany to set up Solar Thermal and Photovoltaic Lab at NETRA (NTPC Energy Technology Research Alliance) under the Indo-German Research Cooperation through a grant of €5 million and matching contribution from NTPC.
These labs are being set up with assistance from German R&D institutions DLR, Cologne and ISE, Fraunhofer, it said.