Adani Gets Japanese Funding for Landmark Green Power Project

In a major boost to India’s renewable energy ambitions, Adani Energy Solutions Limited (AESL) has secured long-term financing from leading Japanese banks for its flagship high-voltage green transmission corridor, strengthening cross-border confidence in India’s clean infrastructure drive.

Japanese Banks Back Adani’s Flagship HVDC Project

Adani Energy Solutions has raised long-term funding from a consortium of Japanese lenders for its high-voltage direct current (HVDC) transmission project, which aims to strengthen the evacuation of renewable power across northern India. The company said the corridor will play a central role in transporting solar energy from Rajasthan’s resource-rich regions to the national grid.

Designed as a high-capacity ±800 kV HVDC network, the project will have an evacuation capacity of 6,000 megawatts. The 950-kilometre corridor will link Bhadla in Rajasthan to Fatehpur in Uttar Pradesh and is scheduled to be commissioned by 2029. Once operational, it is expected to become a critical green transmission artery supporting India’s growing clean power demand.

Strengthening grid stability and renewable integration

The HVDC corridor is expected to significantly improve grid stability while enabling large-scale integration of renewable energy for major urban and industrial centres. By ensuring reliable long-distance transmission, the project will help balance fluctuating renewable generation with rising consumption.

The asset forms part of the Adani Group’s integrated clean energy platform. Rajasthan continues to serve as a major generation hub for Adani Green Energy Limited, whose projects already supply renewable power to AESL’s subsidiary, Adani Electricity Mumbai Limited. AEML currently integrates over 40 per cent renewable energy into its supply mix, placing Mumbai among the world’s leading cities in sustainable power usage.

India-Japan Financial and Technology Partnership Deepens

The financing is being led by MUFG Bank Ltd. and Sumitomo Mitsui Banking Corporation, reflecting sustained global confidence in India’s renewable infrastructure sector. The project is also supported by advanced HVDC technology from Hitachi, delivered in partnership with Bharat Heavy Electricals Limited, strengthening India’s domestic manufacturing ecosystem.

According to the company, these collaborations highlight Japan’s leadership in critical transmission technologies and India’s commitment to boosting local production under the Make-in-India initiative. The growing India-Japan economic corridor is further reflected in AESL’s recent BBB+ (Stable) credit rating from Japanese agency JCR.

CEO Highlights Strategic Importance of the Project

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.”

Green Financing Supports India’s Energy Transition

The financing has been raised under AESL’s sustainable debt framework and follows the Equator Principles, allowing lenders to classify the facility as a Green Loan. This structure aligns the project with international environmental and governance standards, reinforcing India’s credibility in global green finance markets.

Legal advisory support was provided by Latham & Watkins and Saraf & Partners for the borrower, while Linklaters and Cyril Amarchand Mangaldas advised the lenders, highlighting the scale and complexity of the transaction.

(With inputs from ANI)