The Asian Development Bank (ADB) has given a $1bn loan to India’s national transmission company, Power Grid Corporation of India Limited, to develop and upgrade transmission lines and substations as part of the Indian Government’s Green Energy Corridor initiative. This is an important step in helping India meet its ambitious target for renewable energy generation by 2030, which includes increasing solar capacity from around 1 GW today to 10 GW. The upgrade and expansion is part of India's ambitious plans to achieve a national renewable energy target of 175 GW by 2022. Given 90% of this total is expected to be generated from wind and solar energy sources, significant investment in inter-state transmission infrastructure is require to cope with the intermittent power supply associated with renewables.
The Asian Development Bank (ADB) has given a $1bn loan to India’s national transmission company, Power Grid Corporation of India Limited, to develop and upgrade transmission lines and substations as part of the Indian Government’s Green Energy Corridor initiative. ADB will provide a $500m government-backed loan and a further $500m in non-sovereign lending, to boost interconnectivity between the western and southern regions of India. The upgrade and expansion is part of India's ambitious plans to achieve a national renewable energy target of 175 GW by 2022. Given 90% of this total is expected to be generated from wind and solar energy sources, significant investment in inter-state transmission infrastructure is require to cope with the intermittent power supply associated with renewables.