ADB sanctions $434.25 million loan for renewable energy development in Assam
The Asian Development Bank (ADB) has approved a $434.25 million loan to support renewable energy initiatives and enhance energy security in Assam.
The project will establish a 500 MW grid-connected solar photovoltaic facility in the Karbi Anglong district, along with a grid-connected battery energy storage system to stabilize the grid and manage peak power demands.
This initiative aligns with Assam’s renewable energy goals, contributing to the state’s renewable energy roadmap and increasing solar capacity to help achieve its target of 3,000 MW by 2030.