NTDC secures funding for wind power evacuation

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Staff Reporter

The National Transmission and Despatch Company Ltd (NTDC) has secured Rs6,400 million Financing Facility 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 35km long allied Transmission Lines to evacuate 1,224 MW clean renewable energy generated by wind power plants located at Jhimpir Wind Corridor.

Managing Director NTDC, Engr Muhammad Ayub signed the contract of financing facility with Asad Altaf GM Corporate Banking Head (Central) HBL, Ziauddin Tahir, Unit Head NBP.

(Corporate) and Amir Ashraf Head Corporate (Central) Bank Islami during a signing ceremony held at WAPDA House Lahore.

Managing Director NTDC has said, for the first time NTDC has explored the option of raising a financial facility at its own resources (balance sheet) without GOP guarantee.

Whereas, previously, it had relied on GoP guaranteed loans from the local market. This financing facility would be a precursor for more funding for upcoming NTDC projects.

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