French development agency AFD will assist India with an 80 million euro loan facility for developing two hydro-electric projects in Himachal Pradesh.
An agreement was signed between the Department of Economic Affairs and AFD in India for the credit facility today.
A programme is to expand Himachal Pradesh’s clean energy capacities and meet the strong growth anticipated in electricity demand.
It will finance two run-of-river hydroelectric plants, namely Deothal Chanju HEP (30 MW) and Chanju III HEP (48 MW) situated in the Chanju river basin.
“The project aims to provide a capacity of 78MW of renewable energy, which will generate 280 GWh of electricity per year and reduce 276 000 tCO2eq in annual greenhouse gas emissions,” AFD said in a statement.
The construction of these plants will not involve any displacement or resettlement of population, thus reducing the potential negative social impacts of the project.
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