Adani secures $750 M Japanese loan
HVDC transmission project will link Rajasthan and Uttar Pradesh.
Image for illustrative purposes
India: Adani Energy Solutions Ltd (AESL) has secured long-term financing from a consortium of Japanese banks for a large renewable energy transmission project in India. The funding is led by MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation (SMBC), according to the company. Bloomberg has reported that the financing totals around $750 M.
The project involves a ±800 kV HVDC transmission system with a capacity to evacuate 6,000 MW of renewable power. Spanning around 950 km, the line will connect Bhadla in Rajasthan to Fatehpur in Uttar Pradesh. It is scheduled for commissioning by 2029.
The corridor will use advanced HVDC technology supplied by Hitachi Energy in partnership with Bharat Heavy Electricals Limited (BHEL). The project is expected to play a key role in integrating renewable energy and improving grid stability for major urban and industrial centres.
AESL said the development reflects strong India–Japan cooperation in sustainable energy and supports India’s Make-in-India initiative. The financing follows recent credit ratings by Japan Credit Rating (JCR) Agency, which rated Adani Energy Solutions at BBB+ with a stable outlook.
Source: The Economic Times
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