NTPC Renewable Energy Limited has signed Green Term Loan agreement of ₹1,325 Crores with Union Bank of India which includes Secured Loan of ₹825 Crores for Unit#2, 220 MW Solar Project in Shajapur, Madhya Pradesh and ₹500 Crores Unsecured Loan at very competitive rates.

The Secured Loan has been tied-up for a tenor of 20 years, longest ever tenor from any domestic lender within NTPC.

The Unsecured Loan is of 5 years tenor with bullet repayment and can be used for any under construction project of NTPC REL.

The Facility agreement was signed in the presence of Shri Jaikumar Srinivasan, Director (Finance) NTPC, Shri C K Mondol, Director (Commercial) NTPC, Shri Mohit Bhargava, CEO NTPC REL, Shri Neeraj Sharma, CFO NTPC REL and senior officials from Union Bank of India.

NTPC REL has won renewable energy bids of 4,200 MW projects, of which projects totalling to 3,550 MW are under construction.