Adani Energy Solutions Ltd. (AESL) announced it has secured long-term financing from a consortium of Japanese banks for its flagship high-voltage direct current (HVDC) transmission project, positioning the facility as a major buildout of transmission capacity intended to move renewable power from Rajasthan into India’s national grid.
The company said the project is designed as a green evacuation corridor to strengthen renewable energy flows across northern India, with the stated goal of enabling large-scale integration of clean power while improving grid stability for high-demand urban and industrial load centers. AESL said the corridor will connect Bhadla in Rajasthan, one of India’s key solar generation regions, to Fatehpur in Uttar Pradesh, described by the company as an industrial and transport hub.
AESL said the project is configured as a high-capacity ±800 kV HVDC network with an evacuation capacity of 6 GW (6,000 MW) and will span 950 kilometres. The company said the link is scheduled to be commissioned by 2029 and is expected to become a critical green transmission artery supporting India’s expanding clean power demand.
AESL framed the project as part of the Adani Group’s integrated clean energy platform, linking generation, transmission, and distribution. The company pointed to Rajasthan as a key generation hub for Adani Green Energy Limited, and said its projects already supply clean power to AESL’s subsidiary, Adani Electricity Mumbai Limited. AESL said Adani Electricity Mumbai currently integrates more than 40% of renewable energy into its supply mix, positioning Mumbai among the world’s large cities with substantial penetration of sustainable power.
On financing, AESL said the facility is led by MUFG Bank Ltd. and Sumitomo Mitsui Banking Corporation, and described the transaction as reflecting sustained international confidence in India’s renewable infrastructure buildout. The company added that the project is supported by HVDC technology from Hitachi, delivered in collaboration with Bharat Heavy Electricals Limited, which it said leverages India’s domestic manufacturing ecosystem and aligns with the country’s push to deepen local manufacturing under Make-in-India.
AESL also cited a recent BBB+ (Stable) credit rating from Japan Credit Rating Agency (JCR), saying it is aligned with India’s sovereign rating and signals confidence in both India’s policy framework and AESL’s balance sheet. The company said the financing has been raised under its sustainable debt framework and is aligned with the Equator Principles, enabling participating lenders to classify the facility as a Green Loan.
Support: Latham & Watkins and Saraf & Partners acted as borrower’s counsel, while Linklaters and Cyril Amarchand Mangaldas advised lenders on the transaction.
KEY QUOTE:
“This project marks a defining step in building India’s green transmission backbone. The continued support from our Japanese partners—including leading banks and Hitachi—reflects the depth of the India–Japan partnership and our shared commitment to enabling a sustainable energy future. AESL remains focused on developing resilient, future-ready transmission infrastructure to accelerate India’s energy transition.”
Kandarp Patel, CEO, Adani Energy Solutions Ltd.
