The $1 billion (Rs82.81 billion) green HVDC (high-voltage direct current) link project by Adani Energy Solutions (AESL), a division of the Indian conglomerate Adani Group, has reached financial close.

The project's goal is to add additional renewable energy to Mumbai's grid in the Indian state of Maharashtra.

The strategy asks for greater grid greening while accommodating Mumbai's increased electrical consumption.

A group of nine multinational banks, including DBS Bank, Hong Kong Mortgage, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, Siemens Bank, Société Générale, Standard Chartered Bank, and Sumitomo Mitsui Banking, supplied this lending facility.

By 2025, the city's peak electricity demand of 4GW is anticipated to grow to 5GW.

With only 1.8GW of embedded generation, the existing transmission corridors face capacity constraint risks.