NTPC signs $430 m loan accord with Japan Bank…

 

India’a leading power producer and state-owned NTPC Ltd on Monday announced it had entered into two foreign currency loan agreements with the Japan Bank for International Co-operation (JBIC) for around $430million (approx. Rs. 2,650 crore) loan for its Kudgi and Auraiya thermal power projects.

The loan agreements were signed by Kulamani Biswal, Director (Finance), NTPC and Mr. Hiroshi Watanabe, Governor, JBIC here on January 25, an official statement issued here on Monday said.

The company signed a term loan of $350 million with the JBIC to finance the supplies and services from Japan as well as India for the Kudgi Super Thermal Power Project Stage-I (3x800 MW) located in Karnataka. The facility consists of a CIRR based fixed interest tranche and a floating interest rate tranche, with a door to door maturity of about 15 years.

The second loan signed with the JBIC is for 8,021 million yen to finance the renovation and modernisation of gas turbines at NTPC’s Auraiya gas power station. This facility is a CIRR based fixed interest rate facility with a door to door maturity of over 12 years. Kudgi Power project is based on super critical technology which has lower carbon intensity compared to projects based on sub-critical technology.

In both the loans, 60 per cent of the facility amount is provided by JBIC and the balance by commercial banks. The loans are provided on a stand alone basis without any sovereign guarantee reflecting the NTPC’s strong credit quality. This is the first time JBIC has directly extended a direct loan facility to NTPC. JBIC previously extended guarantee for a untied loan of $380million for NTPC’s Barh Stage-I project.

With an installed capacity of 42454 MW through 16 coal based, 7 gas based, 2 solar renewable and 7 Joint Venture power stations, NTPC contributes nearly 28 per cent of electricity in the country, with about 19 per cent of India's installed capacity.

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Cabinet clears SPV for Neemrana model solar power project…

 

A cabinet panel Monday approved the formation of a Special Purpose Vehicle (SPV) for implementing a model solar power project at Neemrana in Rajasthan.

"The Cabinet Committee on Economic Affairs has approved the formation of a SPV for implementation and operation of the model solar power project at Neemrana, Rajasthan as a 100 percent subsidiary of the Delhi Mumbai Industrial Corridor Development Corporation," an official statement in National Capital said.

The government estimates an expenditure of about Rs.35.34 crore on the project, of which the equity component is Rs.13 crore and the debt component is Rs.22.34 crore.

The project, to be implemented in association with the Japanese government, proposes using cutting-edge technology from the Asian country, the statement said.

The power generated would be sold to state-run NTPC Vidyut Vyapar Nigam at a tariff of Rs.8.77 per unit, it added.

"The tariff applicable to industrial consumers will be determined at the time of signing the Power Purchase Agreement by the SPV with users," the statement said.

The project demonstrates the integration of solar power with industrial diesel generator sets. The statement added among the benefits it is expected to yield is the "production of green power while reducing carbon dioxide emissions by cutting down diesel consumption."

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Moser Baer sells solar PV worth Rs 100 crore in Japan…

 

Moser Baer Solar, a subsidiary of Moser Baer India, has crossed more than Rs 100 crore PV module sales in the Japan market during April-December 2013," the company said in a statement.

Moser Baer Solar has been exporting solar PV modules to Japan for last four years and the volume of shipments has increased significantly in last nine months, the statement said.

"Japan traditionally is amongst the world's most quality conscious markets and we are proud to have established an Indian brand in high technology space here. The opportunity is big and we look forward to further our commitments in Japan's journey towards promoting clean energy," Vivek Chaturvedi, Chief Marketing Officer, Moser Baer Solar said in the release.

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Japanese firms interested in partnering Indian companies to develop technology solutions for Renewable Energy Sector...

 

A renewable energy delegation from Japan is now visiting India to explore opportunities for partnership with Indian companies in the renewable energy sector.

Smart grids, waste to energy and storage solutions clearly emerged as areas where both Japan and India could explore partnerships at the ‘Japan India Public Private Round Table on Renewable Energy’ organized by the Confederation of Indian Industry (CII) in partnership with the Ministry of New and Renewable Energy (MNRE) under the aegis of Japan-India Energy Dialogue in New Delhi.

Delivering the inaugural address at the roundtable, Dr Satish B Agnihotri, Secretary, Ministry of New and Renewable Energy, said, “Storage solutions is amongst the key renewable energy technologies that need to be evaluated. Within storage solutions, it is important to look at hybridization, given the intermittent nature of solar and wind power. Hybridization increases the combined capacity utilization factor thereby improving the financial viability. India also needs to leverage the Japanese experience in smart grid deployment and efficient appliances.”

Stressing on the importance of technology, H. E. Mr Takeshi Yagi, Ambassador of Japan, said, “Expansion of technology innovation is extremely important in the renewable energy field. With both Japan and India witnessing a sharp increase in energy imports, renewable energy is a key component of the energy mix. There is a need to harness the huge potential of renewable energy through the development of new technologies and their application to society. It is also important to utilize the private sector’s know how in the areas of waste to energy, storage batteries and smart grids.”

Highlighting some key areas that could be of interest for Indo-Japanese collaboration, Alok Srivastava, Joint Secretary, Ministry of New and Renewable Energy, said, “New areas of co-operation between India and Japan could be in developing cutting edge technologies. Another opportunity is in the area of financing at an affordable cost.”

Key Japanese companies accompanying the Ministry of Economy Trade and Industry (METI, Japan) include, Mitsui Engineering and Ship Building (Solar Power), NGK Insulators (storage solutions), Mitsubishi Heavy Industries (smart Grids), Hitachi Zosen Corporation (waste to energy).

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