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ADB has approved a loan of US $ 434.25 million (about Rs 3,600 crore) to increase renewable energy capacity and improve energy security in Assam. Addressing the shortage of renewable energy capacity in Assam is important to meet growing demand and reduce dependence on fossil fuels, ADB said in the statement.
New Delhi. The Asian Development Bank (ADB) has approved a loan of US $ 434.25 million (about Rs 3,600 crore) to increase renewable energy capacity and improve energy security in Assam. Addressing the shortage of renewable energy capacity in Assam is important to meet growing demand and reduce dependence on fossil fuels, ADB said in the statement. The move will help Assam develop renewable energy infrastructure and increase its solar power capacity to achieve its target of 3,000 MW by 2030.
Assam Solar Project will build a grid-connected solar photovoltaic (PV) facility with a capacity of 500 MW in Karbi Anglong district. This will support the development of grid-connected battery energy storage systems to ensure grid stability and meet peak power demand. The funds will also support the development of grid-connected battery energy storage systems to ensure grid stability and meet peak electricity demand. ADB will help attract private sector investment in renewable energy by strengthening the state's public-private partnership (PPP) framework, the statement said.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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