Adani Energy secures Japanese funding for 6,000 MW green power project

The transmission project will carry renewable power from solar-rich Rajasthan to the national grid, ensuring electricity reaches high-demand regions across India

Adani Energy Solutions Ltd (AESL) has raised long-term funding from a group of Japanese banks for its flagship high-voltage direct current (HVDC) transmission project, the company said in a press release. The project is designed as a green evacuation corridor to support the growing movement of renewable power across northern India.

 

The HVDC project will play a vital role in evacuating renewable energy from Rajasthan, one of India’s most solar-rich states, and feeding it into the national grid. This will help ensure that green power generated in remote regions can reach areas with high electricity demand.

 

Built as a ±800 kV HVDC system, the corridor will have an evacuation capacity of 6,000 megawatts (MW). Spanning about 950 km, it will connect Bhadla in Rajasthan to Fatehpur in Uttar Pradesh. The project is scheduled to be commissioned by 2029.

 

 

Once operational, the transmission link is expected to become a major green power artery, helping integrate large volumes of renewable energy while improving grid stability for energy-intensive cities and industrial hubs in northern India.

 

Kandarp Patel, Chief Executive Officer (CEO), 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..."

 

Adani Group’s clean energy ecosystem

 

The transmission asset is part of the Adani Group’s broader clean energy platform. Rajasthan remains a key generation base for Adani Green Energy Limited (AGEL), whose renewable projects already supply power to AESL’s subsidiary, Adani Electricity Mumbai Limited (AEML), the press release said.

 

AEML currently sources over 40 per cent of its electricity from renewable energy, placing Mumbai among the world’s major cities with significant green power usage.   

 

India-Japan collaboration

 

The funding has been led by Japanese banks MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation (SMBC).

 

The project will use advanced HVDC technology from Hitachi, developed in partnership with Bharat Heavy Electricals Limited (BHEL). This collaboration supports India’s domestic manufacturing goals under the 'Make in India' programme, while also showcasing Japan’s expertise in transmission technology, the press release said.

 

AESL recently received a BBB+ (Stable) credit rating from Japanese rating agency JCR, in line with India’s sovereign rating.

 

The funding has been raised under AESL’s sustainable debt framework and follows the Equator Principles, allowing lenders to classify it as a 'green loan'.