India’s Powergrid gets US$500 million ADB loan for Green Energy Corridor

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Last November energy and mines minister Piyush Goyal announced that PGCIL was seeking a US$1 billion loan from ADB for transmission projects. Flickr: Tapas Ganesh

State-owned transmission firm Power Grid Corporation of India Limited (PGCIL) has entered a loan agreement of up to US$500 million with the Asian Development Bank (ADB) partly for one of its Green Energy Corridor projects, according to a Bombay Stock Exchange filing.

The interstate transmission scheme Part-D, an exercise in shifting excess energy from renewable energy resource-rich states towards major demand centres, will connect the state of Rajasthan with Haryana and Punjab.

The rest of the funds will go towards other transmission projects. These include the Raigarh-Pugalur 6GW HVDC system and the Pugalur-Trichur 2GW VSC based HVDC system at Chattisgarh in the East, and Kerala and Tamil Nadu in the far south.

Last November energy and mines minister Piyush Goyal announced that PGCIL was seeking a US$1 billion loan from ADB for transmission projects.

Read Next

November 24, 2021
Tata Group is planning to set up a 4GW solar cell manufacturing unit in the Indian state of Tamil Nadu, according to a report from the Times of India.
November 15, 2021
India’s government is set to scale up funding for its production-linked incentive (PLI) programme for solar manufacturing as it eyes exports of PV equipment.
November 12, 2021
Indian independent power producer (IPP) Azure Power has received a letter of award (LOA) for its first 150MW interstate transmission system connected (ISTS) solar-wind hybrid project with the Solar Energy Corporation of India (SECI).
November 5, 2021
First Solar is actively exploring future capacity manufacturing locations after recording a surge in demand, both domestically and internationally, amidst supply chain obstacles impacting the PV industry.
November 2, 2021
India has pledged to have 500GW of renewable capacity, accounting for 50% of its energy mix, by 2030.
November 1, 2021
India and the UK will launch a transnational and transcontinental grid project, the Green Grids Initiative-One Sun One World One Grid (GGI-OSOWOG or OSOWOG), at COP26 tomorrow.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal