ADB's USD 434.25 Million Loan for Assam's Renewable Energy Project
| Summary/Static | Details |
|---|---|
| Why in the news? | The Asian Development Bank (ADB) has sanctioned a USD 434.25 million loan to support Assam's renewable energy initiatives. |
| Loan Amount | USD 434.25 million. |
| Project Focus | Construction of a 500 MW grid-connected solar photovoltaic (PV) facility in Karbi Anglong, Assam. |
| Battery Energy Storage System | Includes a grid-connected battery energy storage system (BESS) for stability and peak power demand management. |
| Partnerships | Joint venture between Assam Power Distribution Company Limited (APDCL) and Oil & Natural Gas Corporation Ltd. Tripura Power Company Ltd. |
| Renewable Energy Goals | Supports Assam's target of achieving 3,000 MW renewable energy capacity by 2030; aims to reduce dependency on fossil fuels. |
| Private Sector Investment | ADB will assist in strengthening the Public-Private Partnership (PPP) framework. |
| Infrastructure Development | Replacement of traditional overhead power lines with aerial covered conductor cables; installation of new distribution transformers. |
| Technical Assistance Grant | USD 1 million grant from ADB's Clean Energy Fund for project implementation and capacity-building initiatives. |
| ADB's Vision | A prosperous, inclusive, resilient, and sustainable Asia-Pacific region, aiming to eradicate extreme poverty. |
| Establishment | Founded on December 19, 1966. |
| Headquarters | Manila, Philippines. |
| Top Shareholders (2022) | Japan & U.S. (15.6% each), China (6.4%), India (6.3%), Australia (5.8%). |