ADB Approves USD 434.25 Million Loan for 500 MW Solar PV Project in Assam
The Asian Development Bank (ADB) has approved a USD 434.25 million loan to construct a grid-connected solar photovoltaic (PV) facility in Karbi Anglong district with a capacity of 500 MW.
October 25, 2024. By Mrinmoy Dey
Commenting on the development, ADB Principal Energy Specialist Jiwan Acharya said, “Addressing the renewable energy capacity shortage in Assam is crucial to meet growing demand and reduce dependency on fossil fuels. This project will help Assam develop a renewable energy road map and increase its solar energy capacity to achieve its target of 3,000 MW by 2030.”
The Assam Solar Project will construct a grid-connected solar photovoltaic (PV) facility in Karbi Anglong district with a capacity of 500 MW. The project will support the development of a grid-connected battery energy storage system to ensure grid stability and meet peak power demand. This storage system will be established through a joint venture between the Assam Power Distribution Company Ltd. (APDCL), the Oil and Natural Gas Corporation Ltd. and Tripura Power Company Ltd.
In a statement, ADB said that it will help attract private sector investment into renewable energy by strengthening the state’s public-private partnership (PPP) framework and build its capacity to develop and manage renewable energy PPP projects.
The project will help establish a PPP agreement to develop an additional 250 MW solar PV facility in the Karbi Anglong district.
The project will improve the distribution of electricity around the solar PV facility and neighbouring rural areas by replacing overhead power distribution lines with aerial-covered conductor cables and installing new distribution transformers.
ADB further stated that it will provide an additional USD 1 million technical assistance grant from its Clean Energy Fund under the Clean Energy Financing Partnership Facility to support project implementation, awareness-raising, and capacity building of the APDCL and surrounding communities.
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