Asian Development Bank (ADB) would help Himachal Pradesh in become India’s â€˜hydropower state’ through an $800 million multi-tranche financing facility.
An eight-year loan package, it plans to finance the construction of several run-of-river hydropowers generating plants generating 808 megawatts.
Andrew Jeffries, an Energy Economist at ADB’s South Asia Department said “Himachal Pradesh’s focus on hydropower development will provide jobs to state residents and will further the state’s and the country’s goal of maximizing this clean, indigenous resource to help meet its energy needs.”
ADB and Himachal Pradesh government have already identified two projects-the 111-MW Sawra Kuddu Hydroelectric Project on the Pabber river and civil works for the 65-MW Kashang I Hydroelectric Project located in Kinnaur district. The loan has a 25-year repayment period.
The loan also includes a training component to help state-owned Himachal Pradesh Power Corp. prepare future projects and implement them.