New Delhi, June 15: Adani group’s power transmission and distribution arm Adani Transmission Ltd (ATL) on Wednesday said that its $700 million revolving facility has been tagged as green loan by Sustainalytics.
ATL had tied up the revolving construction facility of $700 million from international banks for its under-construction transmission network portfolio.
The company said that it has obtained the independent Second Party Opinion (SPO) from Sustainalytics on alignment of ATL’s adherence to its sustainability strategy, risk management and application of funds in relation to the underlying eligible projects.
“The SPO from Sustainalytics is the testament to overall philosophy of Adani Transmission to facilitate transition to green energy by increasing the share of renewable power in the overall grid, in line with India’s commitment on climate change.” said Anil Sardana, MD and CEO, ATL.
The projects associated with the $700 million revolving facility are being implemented in the states of Gujarat and Maharashtra. In Gujarat, these projects are part of the Government of India’s Green Energy Corridor Projects (GEC), dedicated to the evacuation and transmission of renewable energy.
In Maharashtra the projects are conceptualized to strengthen Mumbai’s transmission system by enhancing grid stability and providing a stable transmission network which shall promote higher share of renewable energy in the overall grid mix ensuring more penetration of green energy to the end consumers, the company said in the statement.
