The Grid Corporation of India Ltd. (POWERGRID) has secured a loan of ¥80 billion (approximately ₹4,700 crore) from the Japan Bank for International Cooperation (JBIC) to support India’s renewable energy transition. The loan agreement was signed between POWERGRID and JBIC on June 17, 2026.
The Khavda–Nagaur High Voltage Direct Current (HVDC) transmission project, a crucial infrastructure project intended to incorporate significant amounts of renewable energy into the country’s electrical system, will receive the funding. The project is anticipated to be crucial in bolstering India’s renewable energy transmission network and reinforcing the strategic alliance between POWERGRID and JBIC. India urgently needs to address climate change and lessen its reliance on energy imports.
ESG Compliant
The loan, according to the business, illustrates POWERGRID’s dedication to assisting India’s energy transition goals through sustainable infrastructure development and is in line with globally recognized Environmental, Social, and Governance (ESG) standards.
According to POWERGRID, it has established a number of long-term sustainability goals and integrated ESG concepts into its fundamental business processes. Goals include becoming a zero-waste corporation by 2030, achieving net water positivity by 2030, sourcing 50% of its electricity needs from renewable energy by 2025, and reaching net zero emissions by 2047.
Japanese Financial Institution
JBIC, headquartered in Tokyo, is a policy-based financial institution wholly owned by the Government of Japan. Established in 1999, the bank complements private-sector financing while supporting the sustainable development of Japan and the global economy.
As of May 31, 2026, POWERGRID operated 291 substations, 185,750 circuit kilometers of transmission lines, and 630,516 MVA of transformation capacity. The company said its extra-high-voltage transmission network spans the country and incorporates advanced monitoring and digital technologies, enabling a transmission system availability of over 99.5%. In addition to its core transmission business, POWERGRID has also expanded into consultancy and telecommunications services.





