Power Grid of India Secures Landmark Green Loan Deal with SMBC

Power Grid Corporation of India has signed a significant green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) worth 200 million USD, with an option for an additional 150 million USD. This partnership is set to boost renewable energy infrastructure within India's national grid, promoting sustainable development.

The Power Grid Corporation of India has taken a crucial step towards enhancing the nation's renewable energy landscape by securing a groundbreaking green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC). Announced on Tuesday, this collaboration signifies a new era in India's push for sustainable development.

The deal, involving 200 million USD with an additional 150 million USD possible under a greenshoe option, will aid in constructing key infrastructure for renewable energy integration. This partnership underscores Power Grid's commitment to developing robust frameworks for energy transformation.

Signed on December 31, 2024, in Gujarat's GIFT City, the agreement highlights the pivotal role Power Grid plays in India's energy sector. With this financial backing, the corporation aims to improve grid reliability and ensure the integration of sustainable energy, aligning with its ESG principles.

(With inputs from agencies.)