Power Grid signs loan agreement with SMBC for Renewable Energy transformation
The agreement was signed in the presence of Sh. G. Ravisankar, Director (Finance), POWERGRID, Sh. L. K. Khajkumar, ED (Corporate Planning), POWERGRID, and other senior officials of SMBC and POWERGRID.
Power Grid signs loan agreement with SMBC for Renewable Energy transformation
State-run POWERGRID has signed a green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) at GIFT City, Gandhinagar, Gujarat, underscoring its pivotal role in India’s RE transformation. This facility denominated in JPY for US Dollar equivalent of 200 million with a greenshoe option of US$150 million, will enable the development of critical infrastructure for RE evacuation and integration into the National Grid.
The agreement was signed in the presence of Sh. G. Ravisankar, Director (Finance), POWERGRID, Sh. L. K. Khajkumar, ED (Corporate Planning), POWERGRID, and other senior officials of SMBC and POWERGRID.
Sh. Ashwani K. Gupta, ED (Finance), POWERGRID and Sh. Sriram Kumondur, MD & Head, India Offshore Banking, SMBC and Sh. Manoj Kaushik, Branch Head, SMBC, Gift City signed the agreement on behalf of POWERGRID and SMBC.
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