JNPA, IFC partner for $70 million shore power project
The project is expected to cut carbon emissions by 63%, reduce air pollution by up to 90% and create more than 400 jobs.
Rajashree Dabke, General Manager, Finance and Malavika Pillai, Principal Investment Officer, Infrastructure, IFC
The Jawaharlal Nehru Port Authority (JNPA) has partnered with the International Finance Corporation (IFC) for India’s first blue financing framework for the maritime sector, with IFC investing US$70 million in shore power supply infrastructure across JNPA’s terminals.
The investment will enable ships at berth to switch off their diesel engines and connect to land-based electricity. The project is expected to cut carbon emissions by 63%, reduce harmful air pollution by up to 90% and create more than 400 jobs.
The project is the first labelled blue financing for port infrastructure in the Asia-Pacific region and is among the first to align with the Blue Finance guidelines under the Indian Ports Act, 2025. It is also the first development finance institution investment in India’s state-owned major port authorities.
Shore power technology is new to Indian ports, with no major Indian port having deployed it at scale commercially. IFC’s long-term financing is expected to support the adoption of the technology and demonstrate a financing model that could be replicated across other Indian ports.
JNPA Chairperson Gaurav Dayal said funding from international development institutions such as IFC would help the port manage early-stage commercial risks, build operational experience and adopt international best practices before scaling up shore power supply.
IFC South Asia Division Director Manuel Reyes Retana said the investment would demonstrate how sustainable financing can support India’s maritime sector at scale, while helping expand access to finance, create jobs and develop modern infrastructure.
The project is linked to India’s Maritime India Vision 2030 and the Harit Sagar Green Port Guidelines, which aim to make Indian ports globally competitive, digitally advanced and environmentally sustainable. Shore power is identified as one of the guidelines’ key interventions.
IFC has also supported the development of JNPA’s Sustainable Finance Framework to mobilise additional green and blue financing for future investments. DNV’s Second Party Opinion confirmed that the framework aligns with the LMA Green Loan Principles and IFC Blue Finance Guidelines.