NTDC secures Rs6.4 billion loan to evacuate wind power from Jhimpir
ISLAMABAD: In order to induct 956 MW power from wind power projects to the system, the National Transmission and Despatch Company Ltd (NTDC) has secured Rs 6.4 billion loan from consortium of Banks (Habib Bank Limited, National Bank of Pakistan & Bank Islami Pakistan Limited).
The financing facility will be utilized for the construction of 220/132 kV substation and allied Transmission Lines to evacuate clean renewable energy from 19 wind power plants located at Jhimpir wind corridor, said a press release here on Wednesday.
The loan signing ceremony was held at Ministry of Energy (Power Division) which was attended by Minister for Energy Power Division, Omar Ayub Khan, Special Assistant to the Prime Minister, Nadeem Babar, Secretary Power Division, Irfan Ali, Senior officials of the Power Division and NTDC.
Managing Director NTDC, Zafar Abbas and heads of HBL, NBP and Bank Islami signed the Indicative Term Sheet.
The NTDC spokesman said that it was pertinent to note that, NTDC, for the first time had explored the option of raising a loan on its own balance sheet without GoP guarantee. The NTDC in the past has relied on GoP guaranteed loans from the local market. This loan signing would be a precursor for more funding for upcoming transmission line projects. - APP