The Asian Development Bank (ADB) today approved a $434.25 million loan to increase renewable energy capacity and improve energy security in the state of Assam, India.
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ADB will provide an additional $1 million technical assistance grant from its Clean Energy Fund under the Clean Energy Financing Partnership Facility to support project implementation, awareness-raising, and capacity building of the APDCL and surrounding communities.
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“Addressing the renewable energy capacity shortage in Assam is crucial to meet growing demand and reduce dependency on fossil fuels,” said ADB Principal Energy Specialist Jiwan Acharya. “This project will help Assam develop a renewable energy road map and increase its solar energy capacity to achieve its target of 3,000 megawatts (MW) by 2030.”
The Assam Solar Project will construct a grid-connected solar photovoltaic (PV) facility in Karbi Anglong district with a capacity of 500 MW. The project will support the development of a grid-connected battery energy storage system to ensure grid stability and meet peak power demand. This storage system will be established through a joint venture between the Assam Power Distribution Company Limited (APDCL) and the Oil and Natural Gas Corporation Ltd. Tripura Power Company Ltd.
ADB will help attract private sector investment into renewable energy by strengthening the state’s public-private partnership (PPP) framework and building its capacity to develop and manage renewable energy PPP projects. The project will help establish a PPP agreement to develop an additional 250 MW solar PV facility in the Karbi Anglong district.
The project will improve the distribution of electricity around the solar PV facility and neighboring rural areas by replacing overhead power distribution lines with aerial-covered conductor cables and installing new distribution transformers.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.
About Asian Development Bank (ADB)
ADB’s vision is to achieve a prosperous, inclusive, resilient, and sustainable Asia and Pacific, while sustaining its efforts to eradicate extreme poverty. Despite the region’s many successes, 1 in 3 people still live under $3.20 a day – that’s 1.24 billion people. ADB will continue to prioritize the region’s poorest and most vulnerable countries.
Established in 1966, ADB is owned by 68 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.
