Himachal Pradesh receives $105M loan to expand transmission network

India: The Government of India has signed a $105 million loan agreement with the Asian Development Bank (ADB) to finance transmission system upgrades in the state of Himachal Pradesh.

The funding will be used to develop and expand the transmission network in order to evacuate clean and renewable power generated from the state’s hydropower sources to load centres within and outside the state, reports Compelo.

This tranche 3 loan is part of the $350 million multi-tranche financing facility for Himachal Pradesh Clean Energy Transmission Investment Program approved in September 2011.

Source: Compelo