JBIC commits JPY 80 billion to Power Grid for renewable energy transmission

This fact sheet outlines the growing economic security cooperation between India and Japan, highlighting private sector investments and government initiatives in sectors such as semiconductors, clean energy, pharmaceuticals, and information technology.

Who it concerns: The agreement involves the Governments of India and Japan, specifically ministries including India's Ministry of Commerce and Industry, Ministry of Electronics and Information Technology (MeitY), Ministry of Mines, and Ministry of Science and Technology, and Japan's Ministry of Economy, Trade and Industry (METI), Ministry of Internal Affairs and Communications (MIC), Ministry of Foreign Affairs (MOFA), and Ministry of Environment. It affects the semiconductor, ICT, clean energy (green ammonia, hydrogen, bioethanol), pharmaceutical, and critical minerals sectors, involving specific companies like Renesas, Tokyo Electron, Fujifilm, NEC, and JBIC.

What was agreed

• Renesas Electronics invested in CG Power’s OSAT project in Sanand, Gujarat, with mass production starting in 2026.
• Tokyo Electron (TEL) and Tata Electronics launched a strategic partnership for a semiconductor ecosystem in India, including a TEL office in Dholera Industrial Park.
• Fujifilm India signed an MoU with the Government of Gujarat to manufacture semiconductor materials at Dholera Industrial Park, with operations envisaged to commence around 2028.
• Mizuho Bank signed a Memorandum of Cooperation with the Government of Gujarat to support semiconductor investment.
• ROHM signed MoUs with Tata Electronics and Suchi Semicon for power semiconductor manufacturing and back-end outsourcing.
• MinebeaMitsumi signed an MoU with the Government of Tamil Nadu for high-voltage power semiconductor manufacturing and R&D.
• IHI and ACME are collaborating on a project to produce approximately 400,000 tons of green ammonia annually in Odisha.
• JBIC signed a loan agreement of JPY 80 billion with Power Grid Corporation of India Limited for HVDC transmission systems.
• JBIC and Power Finance Corporation Limited signed a loan agreement of JPY 60 billion for a bamboo-based bioethanol production project in Assam.
• Japan’s METI and India’s MeitY signed a Memorandum of Cooperation (MoC) to promote cooperation between Japan’s GENIAC and India’s AI Mission.
• Japan’s Cabinet Office and India’s Ministry of Science and Technology signed a Letter of Intent (LoI) on quantum cooperation.

Also in the document

• A specific financial commitment of JPY 80 billion was made by JBIC to Power Grid Corporation of India for renewable energy transmission infrastructure.
• A specific financial commitment of JPY 60 billion was made by JBIC to Power Finance Corporation Limited for a bioethanol project in Assam.
• A target of 400,000 tons of annual green ammonia production is set for a project in Odisha.
• The document highlights a new framework for cooperation between Japan’s GENIAC and India’s AI Mission.
• The first Joint Working Group meeting on critical mineral supply chains was held in April 2026.