Adani Energy Secures Japanese Bank Funding for Major North India Transmission Project
By Cygnus | 09 Feb 2026
Summary
Adani Energy Solutions Limited (AESL) has finalized long-term financing from a consortium of Japanese banks led by MUFG Bank and Sumitomo Mitsui Banking Corporation (SMBC). The funding supports the company’s flagship ±800 kV High-Voltage Direct Current (HVDC) corridor — a critical “green artery” designed to evacuate 6,000 MW of renewable power from Rajasthan to the industrial hubs of Uttar Pradesh.
AHMEDABAD, Feb 9 — Adani Energy Solutions has significantly expanded its access to international capital, securing a green-linked loan facility to build one of India’s most strategic electricity transmission projects.
The 950-kilometre corridor connecting Bhadla in Rajasthan to Fatehpur in Uttar Pradesh is a cornerstone of India’s plan to integrate 500 GW of renewable energy by 2030. By using HVDC technology — which is more efficient for long-distance transmission than conventional AC lines — the project will minimize power losses as solar energy is moved across state boundaries.
The Technology: A Hitachi-BHEL Collaboration
A key feature of the project is the deployment of advanced HVDC systems supplied by Hitachi Energy, implemented in partnership with Bharat Heavy Electricals Limited (BHEL). The collaboration supports India’s Make-in-India initiative by combining global engineering expertise with domestic manufacturing.
“This project marks a defining step in building India’s green transmission backbone,” said Kandarp Patel, CEO of Adani Energy Solutions. “The continued support from our Japanese partners reflects the depth of the India-Japan partnership and our shared commitment to a sustainable energy future.”
Financial and Strategic Tailwinds
The financing was raised under AESL’s sustainable debt framework and adheres to the Equator Principles, a global standard for environmental and social risk management in project finance.
| Feature | Project Detail |
|---|---|
| Technology | ±800 kV HVDC |
| Evacuation Capacity | 6,000 MW |
| Length | ~950 km |
| Lead Financiers | MUFG Bank, SMBC |
| Target Completion | 2029 |
The transaction follows a Japan Credit Rating Agency (JCR) assessment on AESL-linked debt aligned with India’s sovereign risk profile — a factor that has helped unlock access to Japan’s long-term infrastructure capital markets.
FAQs
Q1. What is the significance of HVDC technology?
HVDC enables the efficient transmission of very large volumes of electricity over long distances with lower losses and reduced land use compared with AC lines.
Q2. How much power will this line carry?
The corridor will evacuate 6,000 MW of renewable energy — enough to supply clean electricity to tens of millions of households.
Q3. Why are Japanese banks leading the financing?
Japan is a global leader in power transmission technology and infrastructure finance. The deal reflects strong India-Japan cooperation in clean energy development.
Q4. Does the project use Make-in-India components?
Yes. While the core HVDC technology is supplied by Hitachi Energy, it is implemented in collaboration with BHEL using domestic manufacturing capabilities.
Q5. When will the project be operational?
The project is targeted for completion by 2029, subject to regulatory approvals and construction milestones.
