Bhubaneswar: The Odisha Power Transmission Corporation Limited (OPTCL) today achieved a significant milestone with the signing of a Long-Term Loan Agreement with the National Bank for Agriculture and Rural Development (NABARD) for the development of power infrastructure in Odisha.
The signing ceremony was graced by the Honorable Deputy Chief Minister, Agriculture & Farmers’ Empowerment, Energy Shri Kanak Vardhan Singh Deo and Shri Bhaskar Jyoti Sarma, Chairman and Managing Director (CMD), OPTCL. Both dignitaries appreciated the collaborative efforts focused on strengthening Odisha’s power infrastructure.
The agreement was formally exchanged between Shri S. K. Sahoo, Director (Finance), OPTCL and Shri V. K. Nag, General Manager, Odisha Regional Office, NABARD. Other functional Directors of OPTCL and senior officials from both OPTCL and NABARD were also present on the occasion.
This strategic financial partnership is aimed at ensuring quality and reliable power supply for upcoming industries and consumers across the state.
Under this landmark agreement, NABARD has extended a loan of ₹1,685.27 crore to OPTCL at an attractive interest rate of 7.75% per annum. The funds are earmarked for two primary purposes: ₹900 crore will be utilized for new transmission projects, while the remaining amount will be used for swapping existing high-cost loans. This initiative marks the first-ever project financing extended by NABARD to any State Public Sector Undertaking (PSU) in Odisha, highlighting its importance in the state’s power sector.
This financial partnership is anticipated to accelerate the execution of critical transmission infrastructure, thereby supporting the state’s growing industrial and economic landscape and ensuring robust power supply across Odisha.