Power Grid Corporation of India Limited (POWERGRID) 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.
This facility denominated in JPY for a US Dollar equivalent of 200 million with a greenshoe option of US$150 million highlights the strategic collaboration between POWERGRID and SMBC to develop critical infrastructure for renewable energy evacuation and integration into the national grid.
This loan agreement was signed in the presence of Sh. G. Ravisankar, Director (Finance), POWERGRID, Sh. L. K. Khajkumar, ED (Corporate Planning), POWERGRID and other senior officials of SMBC and POWERGRID. Sh. Ashwani Kumar Gupta, ED(Finance), POWERGRID and Sh. Sriram Kumondur, Managing Director & Head, India Offshore Banking, SMBC & Sh. Manoj Kaushik, Branch Head, SMBC, Gift City signed this agreement on behalf of POWERGRID and SMBC respectively.
As on 15th December 2024, POWERGRID has commissioned and operating 280 Sub-stations and more than 1,78,975 ckm transmission lines and 5,45,961 MVA of transformation capacity. With the adoption of the latest technological tools and techniques, enhanced use of automation and digital solutions, POWERGRID has been able to maintain average transmission system availability of 99.80%.
