Adani Energy Solutions (AESL) has secured long-term funding from Japanese banks for a high-voltage direct current (HVDC) transmission project in India.
The project, a 950km green evacuation corridor with an evacuation capacity of 6,000MW, will connect Bhadla in Rajasthan to Fatehpur in Uttar Pradesh.
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It aims to transport renewable energy from Rajasthan’s solar resources to the national grid, supporting India’s growing demand for clean power.
The corridor, set to be operational by 2029, will enhance grid stability and integrate renewable energy into some of the nation’s major urban and industrial areas. It is a component of the Adani Group’s clean energy platform.
Led by MUFG Bank and Sumitomo Mitsui Banking Corporation, the financing highlights international confidence in India’s renewable energy sector.
The project is backed by HVDC technology from Hitachi, in partnership with Bharat Heavy Electricals, and aligns with India’s Make in India initiative.
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By GlobalDataThis collaboration strengthens financial and industrial ties between India and Japan.
AESL CEO Kandarp Patel said: “This project marks a defining step in building India’s green transmission backbone. The continued support from our Japanese partners – including leading banks and Hitachi – reflects the depth of the India–Japan partnership and our shared commitment to enabling a sustainable energy future.
“AESL remains focused on developing resilient, future-ready transmission infrastructure to accelerate India’s energy transition.”
Rajasthan serves as a crucial generation hub for Adani Green Energy Limited, which supplies clean power to AESL’s subsidiary, Adani Electricity Mumbai, which integrates more than 40% renewable energy into its supply.
AESL’s financing is part of a sustainable debt framework that is compliant with the Equator Principles, which allows the funding to be classified as a Green Loan.
Latham & Watkins and Saraf & Partners advised AESL, while Linklaters and Cyril Amarchand Mangaldas represented the lenders on the transaction.
