Adani Energy Solutions Limited (AESL) has announced successful financial closure for its $1 billion green high voltage direct current (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 $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 link will bulk inject an additional 1,000 MW of renewable power into the city, thus ensuring uninterrupted power supply in future. The construction work for this 80 km link will begin in October 2023.