ADB approves loan for 500-MW solar park, BESS in India's Assam

The Asian Development Bank (ADB) said on Thursday it has approved extending USD 434.3 million (EUR 401.5m) in debt financing for the construction of a 500-MW solar park in the Assam state of northeastern India.

The grid-connected photovoltaic (PV) farm will be installed in the Karbi Anglong district and will be coupled with a battery storage facility, which will store electricity and inject it into the grid during peak power demand.

The proposed project, supporting Assam's goal of having 3 GW of installed PV capacity by 2030, will help improve the distribution of electricity near the selected site and in neighboring rural areas as existing overhead power distribution lines will be replaced with aerial covered conductor cables. Additionally, it will facilitate the creation of a public-private partnership (PPP) for setting up another 250-MW solar plant in Karbi Anglong, ADB said.

The energy storage component will be installed through a joint venture between Assam Power Distribution Company Limited (APDCL) and Oil and Natural Gas Corporation (ONGC) Tripura Power Company Ltd.

(USD 1.0 = EUR 0.925)

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