NTPC signs agreement with Japan’s JBIC for Rs 1,650 crore funding
Notable because
The agreement, signed in equal parts by both NTPC Limited and NTPC Renewable Energy Limited, a 100% subsidiary of NTPC Limited, marks yet another instance of Japan–India cooperation in the area of finance mobilisation for clean energy. This cooperation spans RE, green hydrogen, and electric mobility, which are key to addressing segments that account for ~70% of India’s emissions
What to look out for in the months ahead
In recent months, there has been an increasing push to route overseas financing into India through GIFT City. One of the recent JPY-denominated bond issuances by Rural Electrification Corporation Limited (REC), a large power sector focussed non-bank financial company (NBFC), was exclusively listed on two GIFT City-based exchanges. Will international finance gravitate in even greater volumes to GIFT City as its preferred window to investment destinations in India and beyond?