Power Grid Secures USD 200 Million Green Loan for Renewable Energy

New Delhi, Dec 31 (PTI) State-owned Power Grid Corporation of India on Tuesday said it has inked a green loan pact with Sumitomo Mitsui Banking Corporation (SMBC).

This facility denominated in JPY for a US Dollar equivalent of 200 million with a greenshoe option of USD 150 million highlights the strategic collaboration between Power Grid and SMBC to develop critical infrastructure for renewable energy evacuation and integration into the national grid, a company statement said.

According to the statement, Power Grid has signed a landmark green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) on 31st December 2024 at GIFT City, Gandhinagar, Gujarat, underscoring its pivotal role in India's renewable energy transformation.

The funds will be instrumental in facilitating renewable energy projects, enhancing grid reliability, and promoting sustainable development across the country. In line with its commitment to sustainable development, POWERGRID has integrated ESG principles into its core business operations and adopted ESG vision and targets.