| Adani Energy Solutions has announced successful financial
closure for its USD 1 Billion Green HVDC link project, which will enable further ‘greening' of the Mumbai Grid by supplying more renewable power to the city while supporting its rising electricity demand.
The credit facility is part of the USD 700 Million revolving project finance facility tied up in October 2021 for its under-construction transmission assets portfolio. This unique Platform Infrastructure Financing Framework that funds various under-construction assets offers project access to funds that another project in the portfolio has paid back. Such an effective one-time structure ensures continuous and consistent access to
capital for all future projects in AESL's transmission portfolio.
The HVDC transmission technology is superior to other conventional technologies as it stabilizes power distribution networks where sudden new loads or blackouts in one part of the network may lead to synchronization problems and cascading failures. Besides, it
is the only technology suitable for islands where submarine cables are used for procuring power supply. More importantly, it is the most environment friendly option as it transmits more energy per square meter as well as results in lower energy losses. Adani Energy Solutions is the only private player with experience of installing HVDC transmission lines
in India and in record time.
The 80 km multi-faceted project will offer a technological upgradation to the city while managing all the complexities in developing such a largescale project in a city like Mumbai. The construction work for this link will begin in October 2023.
The banking consortium for the platform infrastructure financing framework comprised nine international banks including DBS Bank, Intesa Sanpaolo S.p.A., Mizuho Bank, MUFG Bank, Siemens Bank GmbH, Société Générale, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and The Hong Kong Mortgage Corporation. |