PGCIL signs green loan agreement with SMBC for RE integration

Power Grid Corporation of India Limited (PGCIL) has signed a green loan agreement with Sumitomo Mitsui Banking Corporation (SMBC) at GIFT City, Gandhinagar, Gujarat. 

The agreement, denominated in JPY for the US dollar equivalent of $200 million with a greenshoe option of $150 million, will support critical infrastructure development for renewable energy (RE) evacuation and integration into the National Grid.

The agreement was signed by Sh. Ashwani K. Gupta, ED (Finance), POWERGRID, Sh. Sriram Kumondur, MD & Head, India Offshore Banking, SMBC, and Sh. Manoj Kaushik, Branch Head, SMBC, GIFT City, in the presence of senior officials from both organisations.