Sustainalytics Tags Adani Transmission’s $ 700 Ml Facility As Green Loan

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Sustainalytics Tags Adani Transmission’s $ 700 Ml Facility As Green Loan

| Updated: June 15, 2022 12:49

Sustainalytics has classified Adani Transmission Limited’s (ATL) USD 700 million revolving facility as a green loan. ATL is India’s largest private sector power transmission and distribution company. This tag by Sustainalytics provides security for the revolving facility’s green loan framework. This is major as it is first of its kind certification of green loan in the transmission sector in the Asia Pacific (APAC) region.

“ATL signed the energy compact targets as part of COP26 and the energy compact with the United Nations in November 2021,” stated Anil Sardana, MD and CEO of ATL. “The Sustainalytics SPO is a testament to Adani Transmission’s broader attitude of facilitating the transition to green energy by boosting the share of renewable power in the overall grid, in keeping with India’s climate change commitment.”

Sustainalytics had released an independent SPO on the alignment of the evaluated framework with current market requirements, as well as the credibility and impact of the eligible project categories. The four major components of the green loan principles 2021 on project evaluation and selection, use of proceeds and associated contribution to sustainable development goals, administration of proceeds, and reporting, according to Sustainalytics.

Gujarat and Maharashtra are implementing the projects linked with the USD 700 million revolving facility. These projects are part of the Green Energy Corridor Projects (GEC) in Gujarat, which are dedicated to the evacuation and transmission of renewable energy. The projects in Maharashtra are designed to reinforce Mumbai’s transmission system by improving grid stability and creating a reliable transmission network that will promote a higher share of renewable energy in the overall grid mix, assuring more green energy penetration to end customers.

Also Read: Adani, TotalEnergies Join Hands To Create World’s Largest Hydrogen Ecosystem

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