ADB approves $434.25m loan for India's Assam solar project
MANILA: Asian Development Bank (ADB) on Thursday approved a loan of $434.25 million to increase renewable energy capacity and improve energy security in India's Assam state.
The ADB stated that the Assam Solar Project will construct a 500-megawatt grid-connected solar photovoltaic facility in the Karbi Anglong district.
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 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.
Published Date: October 25, 2024, 12:18 pm
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