Power Grid Corporation of India (PGCIL) has signed a green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) for a $200 million facility, with an additional greenshoe option of $150 million. The funds will be utilised to support renewable energy projects, improve grid reliability, and advance sustainable development initiatives across India.
The facility is aimed at developing critical infrastructure to facilitate the evacuation and integration of renewable energy into the national grid. PGCIL has incorporated environmental, social, and governance (ESG) principles into its core business operations and established ESG targets.
In December 2024, PGCIL acquired the Rajasthan IV 4A Power Transmission Limited SPV from RECPDCL to execute a Rs 53.78 billion transmission project under the BOOT model, aimed at evacuating 3.5 GW of renewable energy from the Rajasthan Renewable Energy Zone within 24 months.
