ADB loan for hydropower in Himachal Pradesh
March 14th, 2010 - 3:24 pm ICT by IANSShimla, March 14 (IANS) Himachal Pradesh will soon get another tranche of a multimillion-dollar loan from the Asian Development Bank (ADB) for the construction of four hydropower generating plants in the northern Indian state, a senior official said here Sunday.
“ADB would soon release the second instalment of $59.1 million under the Himachal Pradesh Clean Energy Development Investment Programme. An agreement to this regard was signed in New Delhi Friday,” Himachal Pradesh Power Corporation (HPPCL) Managing Director Tarun Kapoor told IANS in an interview.
He said the second tranche was part of the ADB’s sanctioned loan of $800 million. Earlier, the lender bank had sanctioned $150 million to HPPCL.
The projects being financed are Sawara-Kuddu (111 MW) in Shimla district, Kashang (195 MW) and Shongtong-Karchham (402 MW) in Kinnaur district and Sainj (100 MW) in Kullu district.
“The total estimated cost of these projects is $1.5 billion. The ADB is releasing the loan in the form of a multi-tranche financing facility, which means the instalment is released on the basis of progress of the projects,” Kapoor said.
The loan has a 25-year repayment period.
According to Kapoor, construction work on all the projects has been started and these are likely to be executed by early 2015.
Besides these four projects, HPPCL has three other mega projects in hand, including the Rs.27-billion (Rs.2,700-crore) Renuka Dam project in Sirmaur district that will provide drinking water to Delhi and generate 40 MW power for the hill state.
The government has begun acquiring private land for construction of the Renuka dam.
Himachal Pradesh has abundant water resources, with five major rivers flowing from the western Himalayas. It has a power potential of about 23,000 MW. About 6,480 MW has been harnessed till now by the central and state governments, private players and joint venture companies.
In the coming fiscal, the state government proposes to add more than 600 MW with the commissioning of Allain Duhangan, Malana II, Budhil, Chamera III and some other small projects.
- Himachal hydropower project gets environmental clearance - Apr 23, 2010
- HPPCL hydro projects quake resistant, says minister - Dec 20, 2011
- ADB to release first tranche of loan to Himachal soon - Jan 29, 2009
- Don't fund Himachal hydel units, greens ask Asian agency - Jul 05, 2011
- Depleting forests in Himachal worry green activists (April 22 is Earth Day) - Apr 22, 2011
- Protect interests of tribals, panel tells Himachal - Jul 15, 2011
- ADB sanctions $800-mn loan for Himachal Pradesh - Nov 10, 2008
- Green tribunal stops Himachal hydropower project - Jul 29, 2011
- Himachal in political spat with Delhi over dam project - Jul 21, 2011
- ADB to give $889 million for Himachal, Assam power projects - Jan 19, 2011
- India, ADB ink loan pact for clean energy project in Himachal Pradesh - Jan 18, 2011
- Facing displacement, dam-hit knock on Sonia's door - Nov 18, 2010
- Clamour against hydropower grows louder in Himachal - Jun 30, 2011
- Himachal gets Rs.171.22 crore loan for rural projects - Dec 13, 2011
- Himachal to re-submit Renuka dam proposal for green clearance - Mar 11, 2011
Tags: abundant water resources, adb loan, asian development bank, clean energy, dam project, development investment, dollar loan, energy development, generating plants, hydropower, instalment, joint venture companies, multimillion dollar, mw power, private land, private players, repayment period, rs 2, state governments, western himalayas