Power Grid signs pact with ADB for technology upgradation

Power Grid Corporation of India (PGCIL) has entered into loan agreement with Asian Development Bank on April 5, 2017 for an amount of $225 million (including $50 million as clean technology fund) for part of its transmission projects associated with solar power parks .The company has recently received an approval for Rs 429.21 crore for power transmission related projects.
This new funding will help to improve capacity and efficiency of inter-state transmission networks, especially in transmitting energy generated from solar parks to the national grid.

An official statement stated that this will be “to support construction of high voltage transmission systems to evacuate power generated from new mega solar parks to the interstate grid, and improve reliability of the national grid system.”

The project will improve the capacity and efficiency of interstate transmission networks, particularly in transmitting the electricity generated from the new solar parks to the national grid. Apart from the evacuation of 2,500 megawatts (MW) of power from solar parks in Bhadla, Rajastha, and 700 MW from Banaskantha, Gujarat, PGCIL is also including two additional sub-projects that will increase solar power generation by 4.2 gigawatt and lessen carbon emissions by over 7 million tonnes every year.