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State-owned Power Grid Corporation of India on Monday said it has secured a loan of 80 billion yen (JPY) from the Japan Bank for International Cooperation.
The loan agreement was signed by Powergrid on June 17, the company said in a statement.
Powergrid said it “has secured a green loan of JPY 80 billion from JBIC”.
The facility is intended to support financing of the Khavda-Nagpur HVDC transmission project and highlights strategic collaboration between Powergrid and JBIC to develop critical infrastructure for renewable energy integration, the statement added.
Tokyo-headquartered JBIC, Japan’s policy-based financial institution, is wholly owned by the Japanese Government.
Powergrid is India’s leading electric power transmission utility.
Earlier on June 26, the company said its board has approved the proposal to raise its borrowing limit to Rs 2.2 lakh crore from ₹1.8 lakh crore.
The board, in its meeting held on Friday, also approved the proposal of raising foreign currency funds through External Commercial Borrowings (ECB) up to $ five hundred million ($500 million) from Bank of Baroda, a regulatory filing stated.
According to the regulatory filing, the board approved a proposal for the enhancement of borrowing limits from ₹1,80,000 crore to ₹2,20,000 crore, subject to the approval of the shareholders at the ensuing annual general meeting (AGM).
Power Grid Corporation of India Ltd shares ended at ₹285.50 on the NSE on Monday, down 0.82% or ₹2.35 from the previous close.
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The loan agreement was signed by Powergrid on June 17, the company said in a statement.
Powergrid said it “has secured a green loan of JPY 80 billion from JBIC”.
The facility is intended to support financing of the Khavda-Nagpur HVDC transmission project and highlights strategic collaboration between Powergrid and JBIC to develop critical infrastructure for renewable energy integration, the statement added.
Tokyo-headquartered JBIC, Japan’s policy-based financial institution, is wholly owned by the Japanese Government.
Powergrid is India’s leading electric power transmission utility.
Earlier on June 26, the company said its board has approved the proposal to raise its borrowing limit to Rs 2.2 lakh crore from ₹1.8 lakh crore.
The board, in its meeting held on Friday, also approved the proposal of raising foreign currency funds through External Commercial Borrowings (ECB) up to $ five hundred million ($500 million) from Bank of Baroda, a regulatory filing stated.
According to the regulatory filing, the board approved a proposal for the enhancement of borrowing limits from ₹1,80,000 crore to ₹2,20,000 crore, subject to the approval of the shareholders at the ensuing annual general meeting (AGM).
Power Grid Corporation of India Ltd shares ended at ₹285.50 on the NSE on Monday, down 0.82% or ₹2.35 from the previous close.
Also Read: Blue Jet Healthcare launches ₹600 crore fundraise via QIP
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