POWERGRID Signs Green Loan Agreement with SMBC to Support Renewable Energy Transformation.

Economy Business

In December 2024, Gurgaon (Haryana)-based Power Grid Corporation of India Limited (POWERGRID), a Maharatna PSU under the Ministry of Power (MoP), signed a "Green Loan Agreement" with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) at Gujarat International Finance Tec-City (GIFT), Gandhinagar, Gujarat.


      - The loan facility, denominated in Japanese Yen (JPY), is equivalent to USD 200 million, with an additional greenshoe option of USD 150 million for further expansion.

      - The agreement was signed in the presence of G Ravisankar, Director (Finance), POWERGRID, LK Khajkumar, ED (Corporate Planning), POWERGRID, along with senior officials from both SMBC and POWERGRID.

     

Main Point :-   (i) he green loan will be used to construct and develop critical infrastructure to support the evacuation and integration of Renewable Energy (RE) into India's national power grid.

      (ii) This initiative aligns with India's Sustainable Development Goals (SDGs) and reflects POWERGRID's dedication to promoting renewable energy, improving grid reliability, and upholding Environmental, Social, and Governance (ESG) principles.


          ____________________________