Adani Transmission nearing financial closure for its Mumbai power project. The news was reported by on June 17, 2023.

The article states that Adani Transmission is expected to achieve financial closure of Rs 1,700 crore by July-end. The financing is being provided by a consortium of nine global banks through an international construction facility. The proceeds would be used to set up a 400 KV substation and transmission lines in Maharashtra.

The article also states that the project was awarded to Adani Transmission in 2019 through a tariff-based competitive bidding process. The project involves developing Mumbai’s first-ever 400 kV substation facility. The project, Kharghar Vikhroli Transmission, comprises 34 km of 400 kV and 220 kV transmission lines, along with a 400kV GIS sub-station at Vikhroli.

The financial closure of the project is a positive development for Adani Transmission and for the power sector in India. It shows that Adani Transmission is able to raise funds for its projects and that it is confident in the future of the power sector in India.


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