ADB to provide $298 million loan for Himachal Pradesh, Assam power projects
17 Jan 2011
India and the Asian Development Bank (ADB) today signed a loan agreement for $208 million, which is the third tranche of an ADB loan for the 'Himachal Pradesh Clean Energy Development Investment Programme'.
India also signed an agreement with ADB for a $89.7 million loan for the Assam Power Sector Enhancement Programme (Tranche-II), as part of an overall facility of $200 million.
The government is setting up four run-of-the -river hydropower projects totaling 856 MW in Himachal Pradesh, with funding of around $800 million from the ADB.
The ADB loan provides partial funding for the 195 MW stages II & III of the integrated Kashang hydroelectric project located in the district of Kinnaur, and for the 100 MW Sainj hydroelectric project located in Kullu district, an official release said.
With five major rivers flowing from the western Himalayas across Himachal Pradesh, the state has an estimated power generation potential of about 23,000 MW - about one fourth of India's total hydropower potential - out of which about 6,480 MW has been developed.
"This is part of GOI's priority to supply clean renewable energy power projects. We look forward to successful completion of the project.
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