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State-owned Power Grid Corporation of India Ltd (Powergrid) has secured a green loan of JPY 80 billion from the Japan Bank for International Cooperation (JBIC) to finance the Khavda–Nagpur High Voltage Direct Current (HVDC) transmission project. The loan agreement was signed in the past month and forms part of the financing for transmission infrastructure required to integrate renewable energy into India's power grid. According to the company, the funding reflects continued collaboration between Powergrid and JBIC in developing critical electricity transmission assets. JBIC, headquartered in Tokyo, is Japan's policy-based financial institution and is wholly owned by the Japanese government.
Power Grid Corporation of India Ltd (Powergrid) has secured a green loan of JPY 80 billion from the Japan Bank for International Cooperation (JBIC) to support the financing of the Khavda–Nagpur High Voltage Direct Current (HVDC) transmission project. The state-owned transmission utility announced the funding on Monday, stating that the loan agreement had been signed in the past month.
According to the company, the loan agreement was executed on June 17 and provides green financing for one of India's key power transmission projects intended to facilitate the integration of renewable energy into the national electricity grid.
Powergrid stated that the JPY 80 billion facility would be utilised to finance the Khavda–Nagpur HVDC transmission corridor. The company said the project forms an important part of the transmission infrastructure required to evacuate and transmit renewable power generated from large-scale clean energy developments.
The company added that the financing underscores the strategic collaboration between Powergrid and JBIC in supporting infrastructure associated with India's renewable energy expansion. The funding is expected to contribute towards strengthening transmission capacity required for integrating renewable power into the national grid.
JBIC, headquartered in Tokyo, is Japan's policy-based financial institution and operates as a wholly owned entity of the Japanese government. The institution provides financial support for projects that promote international economic cooperation and infrastructure development.
Powergrid is India's largest electric power transmission utility and is responsible for planning, developing and operating a significant portion of the country's interstate transmission network. The company plays a central role in expanding transmission infrastructure to accommodate increasing renewable energy capacity and strengthen grid connectivity across regions.
The latest green financing adds to Powergrid's funding sources for strategic transmission projects aimed at supporting India's energy transition. The Khavda–Nagpur HVDC project is part of the wider transmission network being developed to connect renewable energy generation with demand centres through high-capacity transmission infrastructure.
Source - PTI
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