Powergrid Secures ¥80 Billion Green Loan from JBIC for Khavda-Nagpur HVDC Transmission Project
Power Grid Corporation of India (Powergrid) has secured an 80 billion yen green loan from the Japan Bank for International Cooperation (JBIC) to finance its Khavda-Nagpur high-voltage direct current (HVDC) transmission project. The loan agreement was signed between Powergrid and JBIC on June 17, 2026.
The financing supports critical infrastructure to evacuate renewable power generated at the Khavda renewable energy park in Gujarat and transmit it to demand centres in Nagpur, Maharashtra, in one of the world's largest HVDC projects. This is one of the largest green funding arrangements for India's power transmission sector.
JBIC, headquartered in Tokyo, is Japan's policy-based financial institution, wholly owned by the Japanese government, and supports projects that complement private-sector financing while contributing to global economic development. The support is also expected to promote adoption of HVDC equipment in the Indian market and create business opportunities for Japanese HVDC equipment suppliers.
Powergrid owns and operates 291 substations, 185,750 circuit kilometres of transmission lines, and a transformation capacity of 630,516 MVA as of May 31, 2026, and has maintained transmission system availability of more than 99.5 percent. The company has integrated ESG principles into its operations, with targets including net zero emissions by 2047, zero waste to landfill by 2030, and being net water positive by 2030.