The Asian Development Bank (ADB) has approved US$600M loan to help improve the efficiency of the electricity grid in India, and is considering a further US$400M.
ADB’s loan follows that approved in late March by the World Bank to the Power Grid Corp of India.
Improvements to the grid will give a boost to the hydropower sector in the country.
The grid improvement project is called the Fourth Power System Development Project (PSDP IV), which it has a total estimated cost of US$2.54B. It aims to strengthen the transmission grid to improve power transfer between regions and states, and cut the cost of energy transfer.
Over the last 15 years the Power Grid Corp of India has almost tripled the size of its transmission network.