The green loan will support the Khavda-Nagpur HVDC transmission project, a critical link for integrating renewable energy into India’s grid.
Power Grid Corp. of India Ltd (POWERGRID), the country’s leading power transmission utility, has secured a landmark green loan of ¥80 billion (₹470 billion) from the Japan Bank for International Cooperation (JBIC).
The bilateral green loan agreement between POWERGRID, a Government of India enterprise, and JBIC, the Japanese government’s development finance agency, was signed on June 17 and announced in a company release on Monday.
According to the statement, “The green loan emphasises POWERGRID’s continued commitment to supporting India’s energy transition goals while adhering to ESG (environmental, social, and governance) standards.”
The financing arrangement will support the Khavda-Nagpur High Voltage Direct Current (HVDC) transmission project, a critical link for integrating renewable energy into India’s grid.
The collaboration between POWERGRID and JBIC reinforces the strategic alignment between India and Japan to expand resilient infrastructure for clean energy.