IFC lends $70 million to JN Port for shore power, India's first blue financing in maritime

The International Finance Corporation (IFC) is lending $70 million to Jawaharlal Nehru Port Authority (JNPA) in India to install shore power supply (SPS) infrastructure across its terminals. This marks the first blue financing deal in India's maritime sector and the first development finance institution investment in a state-owned major port. The 10-year dollar-linked loan, signed in September, will let ships switch off diesel engines at berth, cutting carbon emissions by 63% and air pollution by up to 90%. JNPA becomes the first Indian port to deploy shore power at commercial scale. The project aligns with the Maritime India Vision 2030 and Harit Sagar Green Port Guidelines. IFC's financing helps manage early-stage risks and could serve as a replicable model for other ports in India and emerging markets. The initiative is expected to create over 400 jobs.