Asian Development Bank $48 million loan to help Assam boost energy distribution

Asian Improvement Bank will deliver the 2nd tranche loan of USD 48 million to Assam to help the state increase and upgrade its electrical power distribution procedure. That is the 2nd tranche loan of the USD 300 million multi-tranche financing facility for that Assam Power Sector Investment Programme that was approved by the ADB Board in July 2014, Finance Ministry stated inside a statement on Tuesday. The venture can help Assam to boost capability and efficiency of its electrical power distribution procedure to enhance electricity services to finish users, it stated.
An agreement pertaining to the 2nd tranche was signed concerning Asian Improvement Bank (ADB) along with the Union Government on Monday to aid Assam continue its drive to enhance access to effective and reputable electrical power, it extra. In the to start with tranche, ADB had presented loan of USD 50 million in February final yr. “Increased access to reputable and modern power provide for remote communities will help meet increasing demand. This loan will help strengthen Assam’s distribution system, improve vitality efficiency and minimize technical and business losses,”
mentioned M Teresa Kho, Nation Director, ADB India Resident Mission.
The agreement was signed amongst Kho, Finance Ministry Joint Secretary Raj Kumar, Assam Electrical power Secretary Z Rahman Ahmed along with Assam Energy Distribution Enterprise Ltd (APDCL). MD P Gupta. “Given that a sustainable energy supply is critical for facilitating development and creating employment opportunities, this project can help Assam appeal to investment and tap its financial likely, furthermore to lowering power outages,” Kumar explained. The undertaking, and that is anticipated to become finished by December 2019 can help APDCL add an extra substation capacity, increase and strengthen medium voltage network. It can also reduce program losses by 3 per cent and enhance vitality efficiency by means of renovation and modernisation of existing 33/11 kV substations.

A part of the loan might be utilised to strengthen institutional capacity of APDCL as a result of setting up independent meter testing laboratories, load dispatch centers and installing centralized uniform billing process to one.2 million buyers. The loan features a 25-year phrase, which include a five-year grace time period with an annual curiosity fee established in accordance with ADB’s LIBOR-based lending facility.


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