ADB, India ink $500 million loan pact to expand power connectivity


ADB, India ink $500 million loan pact to expand power connectivity

India and the ADB today signed a $500 million loan pact to expand inter-regional power connectivity in the country, and strengthen transmission system to accommodate renewable energy-generation capacity.

“Expansion of inter-regional connectivity enables bulk power transfer to the southern region which has, at times, been affected by power shortages. This loan will also help strengthen the transmission system to accommodate renewable energy-generation capacity,” Deputy Country Director of ADB’s India Resident Mission Leonardus Boenawan Sondjaja said after signing the agreement.

The project, which is expected to be completed by December 2020, will help build 800 kilovolt (kV) and 320 kV High Voltage Direct Current (HVDC) converter stations and 765 kV power transmission systems in India, the multilateral lending agency said in a statement.

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