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Power Grid Corporation of India Limited has secured an ¥80 billion (approximately ₹4,700 crore) green loan from Japan

ICICIdirect Research 07 Jul 2026 DISCLAIMER

News: Power Grid Corporation of India Limited has secured an ¥80 billion (approximately ₹4,700 crore) green loan from Japan Bank for International Cooperation (JBIC) to fund the Khavda–Nagpur High Voltage Direct Current (HVDC) transmission project. The agreement, signed on June 17, 2026, will support evacuation of renewable power from the Khavda Renewable Energy Park in Gujarat and represents one of the largest green financing deals for India's power transmission sector.

View: The financing strengthens PowerGrid's funding profile for executing large-scale transmission projects required to integrate renewable energy into the national grid. The Khavda–Nagpur HVDC corridor is a key component of India's clean energy infrastructure and supports the country's long-term renewable energy expansion and PowerGrid's net-zero emissions target by 2047

Impact: Neutral

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