TNPSC Current Affairs April 2017
Asian Development Bank to lend $175 million to India to improve solar transmission system.
Asian Development Bank to lend $175 million to India to improve solar transmission system.
Manila-headquartered Asian Development Bank (ADB) have agreed to lend $175 million loan to support construction of high voltage transmission systems to evacuate power generated from new mega solar parks to the interstate grid, and improve reliability of the national grid system .
The Agreement was signed by Mr.Raj Kumar Joint Secretary , Department of Economic Affairs, Ministry of finance on behalf of Government of India and Mr. Kenichi Yokoyama, Country Director of ADB’s India Resident Mission signed for Asian Development Bank.
About Agreement:
- The loan will be given to the Power Grid Corporation of India Limited (POWERGRID) and will include sub-projects in various locations in India.
- The construction of interstate transmission systems for the mega solar power projects will enable transmission of surplus solar energy from States with surplus power to power-deficit States.
- The project will improve the capacity and efficiency of interstate transmission networks, particularly in transmitting the electricity generated from the new solar parks to the national grid.
- Apart from the evacuation of 2,500 megawatts(MW) of power from solar parks in Bhadla, Rajasthan, and 700 MW from Banaskantha, Gujarat, POWERGRID is also including two additional subprojects that will increase solar power generation by 4.2 gigawatt and lessen carbon emissions by over 7 million tons every year.
- This project will support the continued expansion of solar energy in India in line with the Government of India’s objectives, and contribute to climate change by increasing share of clean energy in the power mix besides increasing overall efficiency of the power system
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