ADB Expands Clean Energy Proj In India With AIIB Cofinancing

ADB Expands Clean Energy Proj In India With AIIB Cofinancing

The Asian Development Bank (ADB) today said it has agreed to finance additional powertransmission network components with co-financing from the Asian Infrastructure Investment Bank (AIIB).

The project will connect with an ADB-financed Green Energy Corridor and Grid Strengthening Project in India, the multilateral agency said in a statement.

To increase energy delivery to more provinces in India, the project will now be expanded to include 400 kilovolt transmission components in Tamil Nadu to connect at Pugalur with the long-distance grid systems financed by ADB, the statement said.

“This first AIIB cofinanced project in India will bring clean energy to more people and help the country achieve its ambitious renewable energy targets,” Director of ADB’s energy division in its South Asia department Priyantha Wijayatunga said. Read More…

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