ADB approves Rs 1,775 crore loan to help NTPC’s JV to expand energy efficiency investments
28th Nov 2019

Asian Development Bank (ADB) has approved a loan of $250 million (about Rs 1,775 crore) as part of an assistance package to Energy Efficiency Services (EESL) to expand energy efficiency investments in India. EESL is a joint venture of four PSUs including NTPC, Power Finance Corporation, Rural Electrification Corporation & Power Grid Corporation.

The new ADB project is a sector loan guaranteed by the Government of India, allowing for undertaking of sub-projects with high readiness and inclusion of newer sub-projects as they are developed. Activities to be undertaken by the EESL in eligible states include energy efficiency opportunities not targeted by traditional energy service company investments, such as smart meters, distributed solar photovoltaic systems, and e-vehicles. The total cost of the project is $592 million, of which the Clean Technology Fund will provide $46 million to be administered by ADB, and the EESL will contribute $296 million.

NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.