POWERGRID inks green loan pact with SMBC

Gurugram: Power Grid Corporation of India Ltd (POWERGRID) has signed a landmark green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) on December 31, 2024 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 $150 million highlights the strategic collaboration between POWERGRID and SMBC to develop critical infrastructure for renewable energy evacuation and integration into the national grid.

This loan agreement was signed in the presence of G Ravisankar, Director (Finance), POWERGRID, L K Khajkumar, ED (Corporate Planning), POWERGRID and other senior officials of SMBC and POWERGRID.

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.