Citizen Media Watch

december 14th, 2020

Ntpc Agreement

Posted by lotta

Accused by the stubborn refusal of several electricity distributors (Discoms) to pay outstanding payments, the state-owned electricity producer NTPC will soon ask the Centre for its approval to invoke rarely used tripartite agreements (TPPs). These agreements, first signed in the GJ02 and renewed for a decade in 2016, mean that the Reserve Bank of India (RBI) withdraws the amount of the failure of the respective government accounts to the Central Bank. NTPC Limited has entered into a credit contract with Japan Bank for International Co-operation (JBIC) for foreign currency loans of EUR 3,582. This is part of JBIC`s Green or Global Action for Reconciing Economic Growth and Environment Preservation initiative, according to an official statement. The statement also stated that NTPC`s loan revenues would be used to finance its capital expenditures for waste disposal (FGD) and renewable energy. This agreement with the Japanese government`s financial institution amounts to JPY 50 billion (approximately $482 million and $3,582 billion). Under the foreign exchange loan agreement, JBIC provides 60% of the loan amount and the balance is covered by other commercial banks, sumitomo Mitsui Banking Corporation, Bank of Yokohama, San-In Godo Bank, Joyo Bank and Nanto Bank, which are covered by the JBIC guarantee. NTPC Ltd signed an agreement on Wednesday with the Japan Bank for International Cooperation (JBIC) for a loan of 3,500 Us-Euro. NTPC Ltd, India`s largest energy group, has entered into a foreign exchange credit agreement with the Japanese government`s financial institution, the Japan Bank for International Co-operation (JBIC). ”NTPC has entered into a 50 billion JPY (approximately $480 million, or $3,500 billion) credit contract with JBIC, the Japanese government`s political financial institution,” he said in a company statement. Chief Financial Officer, NTPC, Anil Kumar Gautam, and The Managing Director, Managing Director of the Infrastructure and Environment Finance Group, JBIC, Tanimoto Masayuki, signed the financing agreement at a video conference. .

In September, the Central Electricity Regulatory Commission (CERC) also presented an identity document on the issue of the compensation mechanism and the tariff consequences for upgrading pollution control equipment in thermal facilities. Excessive demands for discomses – invoices that remained unpaid for more than 60 days – have increased almost unrelentingly over the years, and have increased by 242% over the year to 10,500 kronor until the end of fiscal 200. Discomses in Uttar Pradesh, Karnataka, Telangana and Jammu-Kashmir/Ladakh are the largest standard producers whose NTPC royalties account for 80% of the total electricity purchased. In total, at the end of March 2020, discoms costs for electricity producers across India, including private sector units, amounted to 90,577 kronor, 41% more than a year earlier. About 88% of them (79,829 kronor) were ”surtaxes”. The total amount owed would be even higher if the current unpaid bills were counted by major electricity players such as Adani Power and GMR Energy. In order to ensure an uninterrupted supply of electricity in the midst of the national blockade in order to stem the coronavirus epidemic, the EU Energy Ministry relaxed the standard for paying for the dnames at the end of March and asked NTPC not to restrict state supply, even if the dying did not pay. ”Based on the obligations relating to unpaid charges and in view of the medical emergency due to Covid-19, NTPC has set aside these communications,” the joint venture UAE said.



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