NHPC got Loan From Japan for Renewable Projects in Bikaner, Rajasthan

Utkarsh Classes Last Updated 29-03-2024

NHPC got Loan From Japan for Renewable Projects in Bikaner, Rajasthan

Rajasthan 4 min read

NHPC Limited, which is India's largest hydropower utility, has recently obtained a foreign currency loan worth JPY 20.00 billion from the Japan Bank for International Cooperation (JBIC).

This loan is intended to be used for implementing renewable energy (RE) projects.
One of the projects that will be funded by this loan is a 300 MW solar power project located in Bikaner, which is being developed under the CPSU 1000 MW Scheme.
This scheme involves Central Public Sector Undertakings (CPSUs) implementing grid-connected solar projects with viability gap funding (VGF) provided by the government. In January 2015 the scheme was launched.
This is the first time that NHPC has secured a loan of this kind from JBIC for financing renewable energy projects. MUFG Bank Ltd Japan and Bank of Yokohama LtdJapan are providing the loan.
The loan facility is provided under JBIC's GREEN Operations (Global Action for Reconciling Economic Growth and Environment Preservation) program, which aims to promote the preservation of the global environment.

About Bikaner Solar Project

Prime Minister Shri Narendra Modi laid the foundation stone of a solar power plant in Rajasthan on February 16th, 2024.
The plant, located at Karnisar-Bhatiyan village in Poogal Tehsil, Bikaner, will have a capacity of 300 MW and will be powered by high-efficiency bifacial modules manufactured in India.
The initiative is part of the Government of India's goal of achieving Net Zero emissions by 2070 and to add more renewable energy capacity.
The project is being set up by NHPC Limited under Government of India’s CPSU Scheme, Phase-II, Tranche-III with an investment of over Rs. 1,732 crores. Electricity from the plant is planned to be transmitted through Bikaner-II Inter State Transmission System Substation.
The solar project aims to produce 750 million units of green power annually, which will offset carbon dioxide emissions of approximately 18,000 million.Metric tons over its lifetime.

National Hydroelectric Power Corporation Limited (NHPC):

Established: 1975 (Public Sector Company)

Headquarters: Faridabad, Haryana

Ownership: Ministry of Power, Government of India

Chairman and Managing Director: Rajendra Prasad Goyal

NHPC, which stands for National Hydroelectric Power Corporation Limited, was established in 1975 under the Companies Act, 1956. The company's primary objective is to plan, promote, and organize the development of power through conventional and non-conventional sources of energy in India and abroad.
NHPC is capable of handling all the work related to hydropower projects. In addition to hydropower, the company is also involved in developing wind and solar power projects. NHPC aspires to be a global leading organization for sustainable power development, with a mission to create a better future for everyone.