Power Grid secures 80 billion yen loan for Khavda-Nagpur HVDC project

New Delhi: State-owned Power Grid Corporation of India (PGCIL) on Monday said it has secured a loan of 80 billion yen (JPY) from the Japan Bank for International Cooperation.

The loan agreement was signed by Powergrid on June 17, the company said in a statement.

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Power Grid said it “has secured a green loan of JPY 80 billion from JBIC”.

The facility is intended to support financing of the Khavda-Nagpur HVDC transmission project and highlights strategic collaboration between Powergrid and JBIC to develop critical infrastructure for renewable energy integration, the statement added.

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Tokyo-headquartered JBIC, Japan's policy-based financial institution, is wholly owned by the Japanese Government.

Power Grid is India's leading electric power transmission utility.

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