Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Public Sector Enterprise under Ministry of Power, GoI, has signed a landmark green loan agreement recently with Sumitomo Mitsui Banking Corporation (SMBC) at GIFT City, Gandhinagar, Gujarat, underscoring its pivotal role in India’s renewable energy transformation.
This facility denominated in JPY for a US Dollar equivalent of 200 million with a greenshoe option of US$150 million highlights the strategic collaboration between POWERGRID and SMBC to develop critical infrastructure for renewable energy evacuation and integration into the national grid.
Ashwani Kumar Gupta, ED (Finance), POWERGRID and Sriram Kumondur, Managing Director & Head, India Offshore Banking, SMBC & Manoj Kaushik, Branch Head, SMBC, Gift City signed this agreement on behalf of POWERGRID and SMBC respectively.
