[에너지신문] 11 December 2015 -The Asian Development Bank (ADB) has approved a US$1bn financing package to India’s national transmission company, Power Grid Corporation of India Limited (Powergrid). It will consist of a US$500m government-backed loan and of a further US$500m in non-sovereign lending.
The funds will be used to build and upgrade high voltage transmission lines and substations in Rajasthan and Punjab states, as part of the Indian government’s Green Energy Corridor initiative. To increase energy delivery from India’s west to southern region, the project will also include new high-voltage direct current (HVDC) terminals in Chhattisgarh, Tamil Nadu, and Kerala states, boosting interconnectivity between the regions from about 10 GW to 16 GW.
India is promoting the increased use of clean and renewable energy to meet growing power demand, provide universal electricity access, and increase energy self-sufficiency. India aims to achieve a national renewable energy target of 175 GW by 2022, with about 90% of this is expected to be generated from solar and wind sources which are concentrated in a few Indian states. Powergrid’s funding needs for the interstate Green Energy Corridor exceed US$3.4bn, while enhanced overall inter-regional connectivity will require a further US$10bn.