Adani Energy Solutions (AESL) has secured long-term financing from a consortium of Japanese banks for its flagship high-voltage direct current (HVDC) transmission project, a green corridor to evacuate renewable power from Rajasthan to the national grid.
Project Financing and Green Corridor Initiative
Adani Energy Solutions (AESL) has secured long-term financing from a consortium of Japanese banks for its flagship high-voltage direct current (HVDC) transmission project, a green evacuation corridor aimed at strengthening the flow of renewable power across northern India, the company said in an official statement on Monday.
The company said the project will play a central role in evacuating renewable energy from Rajasthan's solar-rich regions and delivering it into India's national grid, supporting the country's expanding clean power demand.
Designed as a high-capacity +-800 kV HVDC network, the project will have an evacuation capacity of 6,000 MW. The 950-kilometre corridor will connect Bhadla in Rajasthan to Fatehpur in Uttar Pradesh. Scheduled for commissioning by 2029, the HVDC link is expected to become a critical green transmission artery, enabling large-scale integration of renewable energy while strengthening grid stability for some of India's most energy-intensive urban and industrial centres.
Strategic Role within Adani's Clean Energy Platform
The asset forms part of the Adani Group's integrated clean energy platform. Rajasthan remains a key generation hub for Adani Green Energy Limited (AGEL), whose projects already supply clean power to AESL's subsidiary, Adani Electricity Mumbai Limited (AEML). AEML currently integrates more than 40 per cent renewable energy into its supply mix, positioning Mumbai among the world's largest cities with significant sustainable power penetration.
Indo-Japanese Collaboration and Technology Partnership
The financing is being led by Japanese banking partners MUFG Bank Ltd. and Sumitomo Mitsui Banking Corporation (SMBC), underscoring sustained international confidence in India's renewable infrastructure build-out.
The project is also supported by advanced HVDC technology from Hitachi, delivered in collaboration with Bharat Heavy Electricals Limited (BHEL), leveraging India's domestic manufacturing ecosystem. The company also noted that these partnerships reflect Japan's leadership in critical transmission technologies and India's push to deepen local manufacturing under the Make-in-India initiative.
Financial Confidence and Credit Rating
The strengthening India-Japan financial and industrial corridor is further reflected in AESL's recent BBB+ (Stable) credit rating from Japanese agency JCR, aligned with India's sovereign rating.
Leadership Commentary
Commenting on the development, Kandarp Patel, CEO of AESL, 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."
Sustainable Financing Framework
The financing has been raised under AESL's sustainable debt framework and is aligned with the Equator Principles, enabling participating lenders to classify the facility as a Green Loan. Latham & Watkins and Saraf & Partners acted as borrower's counsel, while Linklaters and Cyril Amarchand Mangaldas advised the lenders on the transaction. (ANI)
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