ADB Approves 434.25 Million USD Loan To Indian State For Energy Security
Date
10/24/2024 5:15:17 AM
(MENAFN- IANS) Manila, Oct 24 (IANS) 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.
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