ADB approves 434.25 million USD loan to Indian state for energy security

Manila, Oct 24 The Asian Development Bank (ADB) on Thursday approved a loan of 434.25 million US dollars to increase renewable energy capacity and improve energy security in Assam.

The ADB said that the Assam Solar Project will construct a 500-megawatt grid-connected solar photovoltaic facility in Karbi Anglong district, Xinhua News Agency reported.

The project is also expected to support the development of a grid-connected battery energy storage system to ensure grid stability and meet peak power demand.

The ADB said that the project will help Assam develop a renewable energy roadmap and increase its solar energy capacity to achieve its target of 3,000 megawatts by 2030.

Source: IANS