Adani Energy Secures Japanese Financing For Green HVDC Power Corridor

Adani Energy Solutions Ltd (AESL), India’s largest private energy services company, has secured long-term financing from a consortium of Japanese banks for its flagship high-voltage direct current (HVDC) transmission project, a green evacuation corridor designed to strengthen the flow of renewable power across northern India.

The project will likely play a pivotal role in evacuating renewable energy from Rajasthan’s solar-rich regions and delivering it into the national grid, supporting India’s rapidly growing clean power demand.

Project Configuration and Route

Configured as a ±800 kV HVDC network with an evacuation capacity of 6,000 MW, the 950-kilometre corridor will connect Bhadla in Rajasthan to Fatehpur in Uttar Pradesh.

Scheduled for commissioning by 2029, the link is to become a critical green transmission artery, enabling large-scale renewable integration while enhancing grid stability for energy-intensive urban and industrial centres.

The asset forms part of the Adani Group’s integrated clean energy platform. Adani Green Energy Limited (AGEL) continues to use Rajasthan as a major generation hub, with its projects already supplying clean power to AESL’s subsidiary, Adani Electricity Mumbai Limited (AEML).

AEML currently integrates more than 40% renewable energy into its supply mix, placing Mumbai among the world’s leading cities in sustainable power penetration.

The financing, led by MUFG Bank Ltd and Sumitomo Mitsui Banking Corporation (SMBC), highlights sustained international confidence in India’s renewable infrastructure expansion.

Hitachi is supplying advanced HVDC technology for the project in collaboration with Bharat Heavy Electricals Limited (BHEL), aligning with India’s push to strengthen domestic manufacturing under the Make-in-India initiative.

AESL’s recent BBB+ (Stable) credit rating from Japanese agency JCR also reflects the growing India–Japan financial corridor and aligns with India’s sovereign rating.

Kandarp Patel, CEO, AESL, stated, “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.”

The financing has, however, been raised under AESL’s sustainable debt framework, aligned with the Equator Principles, allowing lenders to classify the facility as a Green Loan. Latham & Watkins and Saraf & Partners advised the borrower, while Linklaters and Cyril Amarchand Mangaldas acted for the lenders.