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ASEL Achieves Financial Closure for HVDC Transmission Link Project

Adani Energy Solutions (AESL) has achieved financial closure of USD 700 million with nine international banks for its under-construction green high voltage direct current (HVDC) transmission link between Kudus to Aarey in Mumbai, Maharashtra.

 

The HVDC project, estimated to cost USD 1 billion, will enable further strengthening of the Mumbai grid by supplying more renewable power to the city while supporting its rising electricity demand.

 

The banking consortium for the platform infrastructure financing framework comprised nine international banks, including DBS Bank, Siemens Bank GmbH, Societe Generale, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and others.

 

The project aligns with AESL’s commitment to boost the share of renewable power to 60 percent by 2027, and the company has already achieved its first major target of 30 percent.

 

The multi-faceted project will offer the city technological upgradation while managing the complexities in executing such a large-scale construction in a city.

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