The green loan pact for USD 200 million with greenshoe option of USD 150 million, will aid the development of critical infrastructure for evacuation of renewable energy and its integration into the national grid.
Jan 2, 2025
State-owned Power Grid Corporation of India Limited (PGCIL) has signed a green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) for the development of critical infrastructure for RE evacuation and integration into the national grid.
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As per POWERGRID, the agreement was signed on December 31, 2024 at GIFT City in Gandhinagar, Gujarat. The facility, denominated in JPY for USD 200 million with greenshoe option of USD 150 million, underscoring PGCIL’s pivotal role in India’s RE transformation.
It would further aid the facilitation of renewable energy projects, promotion of sustainable development and enhancement of grid reliability across the country.
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In line with its commitment towards sustainable development and conservation of nature & natural resources, POWERGRID has integrated ESG principles into its core business operations. The company aims to have zero waste going to landfills and become net water positive by 2030. It further aims to achieve net zero emissions by 2047.
