ADB okays $175 mn loan to Power Grid to diversify energy mix

ADB okays $175 mn loan to Power Grid to diversify energy mix

Asian Development Bank (ADB) has approved USD 175 million loan to Power Grid Corporation to help the power producer diversify its power mix by supplying more clean energy.

Under clean energy clause, more power is to be produced from solar. The move will also help India to achieve its energy security target.

Also, ADB will be assisted with USD 50 million co-financing loan from its Clean Technology Fund (CTF).

CTF is part of ADB’s USD 5.8 billion corpus under Climate Investment Funds aimed at providing developing countries resources to utilise low carbon technologies and transitioning to clean, renewable energy sources.  Read More…

Credit By: The Economic Times

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