Power Grid Inks $200M Green Loan Pact with SMBC
POWER & RENEWABLE ENERGY

Power Grid Inks $200M Green Loan Pact with SMBC

State-owned Power Grid Corporation of India has signed a JPY-denominated green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC), securing funds equivalent to USD 200 million, with an additional greenshoe option of USD 150 million.

The agreement, finalized on December 31, 2024, at GIFT City, Gandhinagar, Gujarat, underscores a strategic collaboration to enhance renewable energy evacuation and integration into the national grid. This initiative aligns with Power Grid's pivotal role in supporting India's renewable energy goals, the company stated.

This green loan marks a significant milestone in India's renewable energy transformation, showcasing global partnerships for sustainable infrastructure development.

State-owned Power Grid Corporation of India has signed a JPY-denominated green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC), securing funds equivalent to USD 200 million, with an additional greenshoe option of USD 150 million. The agreement, finalized on December 31, 2024, at GIFT City, Gandhinagar, Gujarat, underscores a strategic collaboration to enhance renewable energy evacuation and integration into the national grid. This initiative aligns with Power Grid's pivotal role in supporting India's renewable energy goals, the company stated. This green loan marks a significant milestone in India's renewable energy transformation, showcasing global partnerships for sustainable infrastructure development.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement