India’s PGCIL seeks US$1 billion ADB loan for Green Energy Corridors

Facebook
Twitter
LinkedIn
Reddit
Email
It will be used to fund several transmission projects over the next three or four years. flickr: Tapas Ganesh

State-owned transmission firm Power Grid Corporation of India Limited (PGCIL) has sought loan assistance of US$1 billion from the Asian Development Bank (ADB), according to energy and mines minister Piyush Goyal.

The loan will include a US$500 million sovereign guaranteed loan and a non-soveriegn loan for the other US$500 million.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

It will be used to fund several transmission projects over the next three or four years, including a Green Energy Corridor poject. The Corridors are for transmiting power from solar rich states to those with high energy demand. They will also help integration of renewables into the grid and increase their share.

The loan will be used for Inter State Transmission Systems (ISTS). These include 765kV DC connections between Ajmer and Bikaner in Rajasthan and another connection between Bikaner and Moga. The fund will also be used for establishing a 2×1500 MVA, 765/400 kV substation at Bikaner and for work on a circuit in Bikaner.

In May Goyal said that Inter-State Transmission Projects are expected to be funded with 30% equity from PGCIL.

The loans will also be used for two major links between the states of Chhattisgarh, Tamil Nadu and Kerala.

Grid issues are expected to hamper India's solar plans in the coming two years as green energy corridor projects can take up to five years to complete, while solar takes just 12-18 months.

Read Next

June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 26, 2025
ACEN has partnered with UPC Renewables to build two renewable projects in Rajasthan and Karnataka, India. 
June 25, 2025
Emmvee has secured INR15 billion (US$174 million) order for TOPCon bifacial solar modules from KPI Green Energy. 
June 25, 2025
State-owned firm Solar Energy Corporation of India (SECI) has launched a solar-plus-storage tender seeking 1.2GW of solar PV.
June 25, 2025
US EPC contractor SOLV Energy has acquired high-voltage (HV) transmission contractor Arizona-based Spartan Infrastructure.
June 24, 2025
Waaree Renewable Technologies has signed an MoU with Viet Khanh to establish a 100MWp solar project in the region. 

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA