Himachal Eyes $ 300 Million Loan For Power Transmission

Shimla: Constraint over adequate power transmission grids especially as many new hydropower projects are scheduled to come online in the next few years, new entity Himachal Transmission Corporation is negotiating a $ 300 million loan with Asian Development Bank (ADB) for strengthening transmission systems, top officials disclosed.

Senior IAS officer, Traun Kapoor, who heads Transmission Corporation disclosed that ADB had appointed consultants for defining the various works needed to meet the power evacuation needs as more hydropower projects get commissioned in the coming years.

He said that senior executive team from ADB was here and modality for obtaining a $ 300 million new loan from the bank was being worked out, which would specifically be for improving the power transmission grids.

Other than the new loan being negotiated, ADB has already committed a loan of $ 800 million to HP Power Corporation Ltd for executing projects with a total generation capacity of 1000 MW of hydropower.

Among others the power corporation is executing the 450 MW Shongtong Karcham project, the 100 MW Sainj project, the 243 Kashang project and the 111 MW Sawra Kuddu project. The corporation has also been entrusted with the task of executing the 40 MW Renuka Dam project specially being set up for meeting the drinking water needs of national capital region.

Of the $ 800 million loan the corporation having availed $ 245 million in two tranches, Kapoor said that after assessing the progress of projects under execution, release of a third tranche of $ 208 million was in the final stage.

As Editor, Ravinder Makhaik leads a team of media professionals at Hill Post. Spanning a career of over two decades in mass communication, as a Documentary Filmmaker, TV journalist, Print Media journalist and with Online & Social Media, he brings with him a vast experience. He lives in Shimla.

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