Odisha Power Sector Gets Big Push as OPTCL Signs Strategic Loan Agreement with NABARD

Bhubaneswar: Odisha’s power sector received a major boost today as the Odisha Power Transmission Corporation Limited (OPTCL) and the National Bank for Agriculture and Rural Development (NABARD) entered into a landmark long-term financial partnership. The agreement marks the first instance of NABARD extending project financing to any State PSU in Odisha, signalling a transformative step toward strengthening the state’s transmission network.

In a significant development, NABARD has approved a long-term loan of ₹1,685.27 crore for OPTCL at an interest rate of 7.75% per annum. According to officials, ₹900 crore of the sanctioned amount will be directed toward new transmission projects, while the balance will be utilised to swap existing high-cost loans—ensuring better financial efficiency and faster project execution.

The agreement was exchanged in the presence of Deputy Chief Minister and Energy Minister Kanak Vardhan Singh Deo, who commended the partnership as a timely intervention to meet the rising power demand from upcoming industries as well as domestic consumers. Bhaskar Jyoti Sarma, CMD of OPTCL, highlighted that the collaboration will help accelerate the deployment of critical transmission infrastructure across Odisha.

The loan documents were formally exchanged between S. K. Sahoo, Director (Finance), OPTCL, and V. K. Nag, General Manager of NABARD’s Odisha Regional Office. Senior officials from both institutions, including the functional directors of OPTCL, were present during the ceremony.

Officials noted that the strategic financing will significantly strengthen Odisha’s grid capacity, support industrial expansion, and contribute to reliable, quality power supply across the state. The alliance, they added, reflects the growing synergy between financial institutions and the power sector in driving Odisha’s economic growth.