Power Grid Corporation Of India Ltd.

Asian Development Bank (ADB) is all set to lend $500-million government-backed loan and a further $500 million in non-sovereign lending to Power Grid Corporation of India (PGCIL). The company will use the fund to build and upgrade high voltage transmission lines and substations in Rajasthan and Punjab, as part of the Government’s Green Energy Corridor initiative.

The project will also include new high-voltage direct current terminals in Chhattisgarh, Tamil Nadu and Kerala, boosting interconnectivity between the regions from about 10 gigawatt (GW) to 16 GW.

PGCIL is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems.