POWERGRID Bags ¥80 Billion Financing from JBIC for HVDC Transmission Project

State-owned Power Grid Corporation of India Ltd. (POWERGRID) has secured a loan of ¥80 billion (approximately ₹4,700 crore) from the Japan Bank for International Cooperation (JBIC) to support India's renewable energy transition. The loan agreement was signed between POWERGRID and JBIC on June 17, 2026. The financing will be used for the Khavda–Nagaur High Voltage Direct Current (HVDC) transmission project, a key infrastructure initiative aimed at integrating large-scale renewable energy into the national power grid. The project is expected to play a vital role in strengthening India's transmission network for renewable power while deepening the strategic partnership between POWERGRID and JBIC. ESG Compliant According to the company, the loan aligns with internationally accepted Environmental, Social and Governance (ESG) standards and reflects POWERGRID's commitment to supporting India's energy transition objectives through sustainable infrastructure development. POWERGRID said it has embedded ESG principles into its core business operations and has set several long-term sustainability targets. These include achieving net-zero emissions by 2047, sourcing 50% of its electricity requirements from renewable energy by 2025, becoming a zero-waste company by 2030, and attaining net water positivity by 2030. Japanese Financial Institution JBIC, headquartered in Tokyo, is a policy-based financial institution wholly owned by the Government of Japan. Established in 1999, the bank complements private-sector financing while supporting the sustainable development of Japan and the global economy. As of May 31, 2026, POWERGRID operated 291 substations, 185,750 circuit kilometres of transmission lines, and 630,516 MVA of transformation capacity. The company said its extra-high-voltage transmission network spans the country and incorporates advanced monitoring and digital technologies, enabling transmission system availability of more than 99.5%. In addition to its core transmission business, POWERGRID has also expanded into consultancy and telecommunications services.