The Philippines-based multilateral body said the finance will be split between a $500m government-backed loan and the same again in non-sovereign funds, to be used towards India’s ‘Green Energy Corridor’.
The cash will be used by Powergrid on high-voltage transmission infrastructure improvements in India’s northwestern Rajasthan and Punjab states, and on HVDC terminals in Chhattisgarh, Tamil Nadu, and Kerala.
The investment will help get solar and wind power from regions of supply to those of demand, said the ADB, boosting regional interconnectivity by about 6GW to 16GW.
The
