Adani Transmission's $700 million revolving facility tagged as Green Loan by Sustainalytics

Ahmedabad: Adani Transmission Limited (ATL), India's largest private sector power transmission and distribution company's $700 million revolving facility has been tagged as green loan by Sustainalytics. This provides assurance on the green loan framework for the revolving facility.

"ATL has been a signatory to energy compact goals as part of COP26 and the energy compact with UN in November, 2021" said Anil Sardana, MD and CEO, ATL. "The SPO from Sustainalytics is the testament to overall philosophy of Adani Transmission to facilitate transition to green energy by increasing the share of renewable power in the overall grid, in line with India's commitment on climate change."

Sustainalytics had issued the independent SPO on the alignment of the reviewed framework with the current market standards and the extent to which the eligible project categories are credible and impactful. It has opined that ATL's green loan framework aligns to the four core components of the green loan principles 2021 on project evaluation & selection, use of proceeds and associated contribution to sustainable development goals, management of proceeds and reporting.

The projects associated with the $700 million revolving facility are being implemented in the states of Gujarat and Maharashtra. In Gujarat, these projects are part of the GoI's Green Energy Corridor Projects, dedicated to the evacuation and transmission of renewable energy.

In Maharashtra the projects are conceptualised to strengthen the Mumbai's transmission system by enhancing grid stability and providing a stable transmission network which shall promote higher share of renewable energy in the overall

grid mix.