PGCIL seeks $1 billion loan for green energy corridor from ADB

The Dollar Business Bureau
 
Power Grid Corporation of India Limited (PGCIL) on Thursday sought a loan assistance of $1 billion from Asian Development Bank (ADB) to support funding of various transmission projects, including a project under the government’s much-ambitious Green Energy Corridor projects.
 
The requested loan amount consists of a sovereign guaranteed loan of $500 million and anon-sovereign loan of $500 million.
 
Power, Coal, New & Renewable Energy and Mines Minister Piyush Goyal on Thursday informed the Lok Sabha that the loan would be utilised for funding several transmission projects in the next three-four years.
 
The projects include a 6000 MW HVDC link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) - North Trichur (Kerala), and a 2000 MW VSC based HVDC System link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu) - North Trichur (Kerala).
 
Other corridors such as a 765 Kv D/c link between Ajmer and Bikaner, another 765 kV D/c link between Bikaner and Moga, a 400 kV one circuit between Bhadla- Bikaner (RVPN) and an establishment of a 2x1500 MVA, 765/400 kV S/s at Bikaner.
 
The Green Energy Corridor Project is aimed at synchronising electricity produced from renewable sources, including solar and wind, with conventional power stations in the grid.