On August 7, Adani Energy Solutions Limited (AESL) announced that it had achieved financial closure for its $1 billion HVDC (High Voltage Direct Current) Link project to supply renewable energy to Mumbai.

The company has achieved a $700 million financial closure with nine international banks for its under-construction 80-km multi-faceted HVDC transmission link between Kudus to Aarey in Mumbai.

The company said that the construction of this link will commence in October 2023.

The HVDC transmission technology stabilizes power distribution networks and is far superior to conventional technologies. Moreover, this technology is very suitable for islands where submarine cables supply power.

With this latest project, the link will add 1,000 megawatts of renewable power to the city, ensuring an uninterrupted power supply in the future.

Anil Sardana, MD, AESL, said, “This link is the need of the hour for the city and will support its growth aspirations. It showcases our commitment to offering Mumbai a brighter and greener future. The project will help accelerate the city’s decarbonization and net zero journeys.”

He added that the link is critical for the city to support its aspirations and will showcase the company’s commitment towards offering Mumbai a brighter, greener future.

The electricity demand for Mumbai is expected to reach 5,000 megawatts by 2025 from the current demand of 4,000 megawatts.

He added, “Adani Electricity Mumbai Ltd (AEML) being the largest electricity distribution company has committed to increasing the share of renewable energy in the overall mix to 60 percent by 2027.”