Adani Energy taps MUFG, SMBC-led consortium for transmission project

Adani Energy Solutions has secured long-term financing from a consortium of Japanese banks, led by MUFG and SMBC, for a renewable power transmission project in northern India, it said on Monday. 

Adani Energy, part of the ports-to-power Adani conglomerate, said the project will supply power from Rajasthan's solar-rich regions to the country's national grid.

It did not disclose further details regarding the financing.

The project, connecting Bhadla in Rajasthan to Fatehpur in Uttar Pradesh, is scheduled to be commissioned by 2029 and will strengthen grid stability for energy-intensive urban and industrial centres, the company added.