By Enersider Desk | New Delhi
Adani Energy Solutions Ltd (AESL) has secured long-term financing from a consortium of Japanese banks for its high-voltage direct current (HVDC) transmission project aimed at evacuating renewable energy across northern India, an official statement said.
The green evacuation corridor will facilitate the transfer of renewable power from solar-rich regions of Rajasthan to the national grid, supporting India’s growing clean energy requirements.
The project involves a ±800 kV HVDC transmission system with an evacuation capacity of 6,000 MW. Spanning about 950 km, the corridor will connect Bhadla in Rajasthan to Fatehpur in Uttar Pradesh and is scheduled for commissioning by 2029.
According to the statement, the transmission link is expected to support large-scale renewable integration and enhance grid stability in key demand centres.
The asset forms part of the Adani Group’s clean energy platform. Rajasthan is a major generation base for Adani Green Energy Ltd (AGEL), whose renewable projects supply power to AESL subsidiary Adani Electricity Mumbai Ltd (AEML). AEML currently sources over 40 per cent of its power from renewable energy.
The financing is led by Japanese lenders MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation (SMBC), highlighting continued overseas participation in India’s renewable infrastructure sector. The project will deploy HVDC technology from Hitachi in collaboration with Bharat Heavy Electricals Limited (BHEL), with an emphasis on domestic manufacturing.
AESL has recently received a BBB+ (Stable) credit rating from Japanese rating agency JCR, in line with India’s sovereign rating.
Commenting on the development, CEO, AESL, 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.”
The financing has been raised under AESL’s sustainable debt framework and is aligned with the Equator Principles, allowing lenders to classify it as a green loan.
Latham & Watkins and Saraf & Partners advised AESL on the transaction, while Linklaters and Cyril Amarchand Mangaldas acted as counsel to the lenders.
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