The Asian Development Bank (ADB) has approved a $175 million
(~Rs.11.35 billion) loan to the Power Grid Corporation (PGCIL) to expand its
solar power transmission network across the country.
The new funding will help improve the capacity and
efficiency of the interstate transmission networks, especially in transmitting
electricity generated from solar parks to the national grid, according
As a part of the loan, ADB will provide a $50 million (~Rs.3.24
billion) in a co-financing loan from the Clean Technology Fund, a component of
the $5.8 billion (~Rs.376.1 trillion) climate investment fund, aimed at
providing developing countries resources to expand efforts in utilizing low-carbon
technologies and transitioning to clean, renewable energy sources.
Apart from evacuating 2,500 MW of power from the solar park
in Bhadla, Rajasthan and 700 MW from Banaskantha, Gujarat, the PGCIL is also
including two additional subprojects that will increase solar power generation
by 4.2 GW.
reported, that the ADB is providing a $500 million (~Rs.33.4 billion) loan
to PGCIL for the development of the Green Energy Corridor.