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ADB withdraws Rs 36.5 billion loan for Assam solar project

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The Asian Development Bank (ADB) has withdrawn its loan approval of Rs 36.51 billion (USD 434.25 million) for the 500 MW phase of the Khagarijan Solar Power Project in Assam. The withdrawal comes in response to local protests over the project’s development. ADB had initially approved the loan in October 2024. The project is being implemented by Assam Power Development Company Limited (APDCL) under the “Mukhya Mantri Sauro Shakti Prokolpo” scheme. The full project involves…

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ADB and AIIB back Caspian green energy corridor project

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The Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) have signed a memorandum of understanding (MoU) with the energy ministries of Azerbaijan, Kazakhstan, and Uzbekistan. The agreement supports the feasibility study for the Caspian Green Energy Corridor Project. This MoU outlines a joint effort to create the legal and institutional setup needed for cross-border electricity trade among the three Central Asian nations. The project aims to boost regional energy ties and promote…

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AfDB invests in climate tech in Sub-Saharan Africa

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The African Development Bank (AfDB) has committed USD 10 million from its Sustainable Energy Fund for Africa (SEFA) to the Persistent Africa Climate Venture Builder Fund (ACV Fund). This initiative supports climate technology entrepreneurship in Sub-Saharan Africa. The ACV Fund will provide early-stage financing to ventures in sectors such as solar energy, energy efficiency, electric mobility, agricultural technology, and circular economy solutions. The investment is expected to unlock an additional USD 70 million for climate-focused…

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Tata Power and ADB partner to evaluate $4.25 billion clean energy projects

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Tata Power has signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) during COP29 in Baku, Azerbaijan.  The partnership will evaluate financing for strategic projects aimed at enhancing India’s power infrastructure and promoting renewable energy. The MoU includes projects such as a 966 MW solar-wind hybrid system, pumped hydro storage, energy transition initiatives, decarbonization, and battery storage, alongside ongoing investments to modernize Tata Power’s distribution networks.  The estimated cost of these projects…

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ADB approves USD 311 million loan for Nepal’s T&D infrastructure upgrade

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The Asian Development Bank (ADB) has approved a USD 311 million loan to upgrade electricity transmission and distribution infrastructure in Nepal under the South Asia Subregional Economic Cooperation Electricity T&D Strengthening Project.  Implemented by Nepal Electricity Authority (NEA), the project will modernize energy infrastructure and add solar photovoltaic (PV) generation capacity.  Key initiatives include constructing 290 km of transmission lines across Dailekh–Jumla, New Butwal–Lamahi, Nijgadh–Ramauli, and Teenpiple–Okharpauwa, along with enhancing distribution infrastructure in Karnali and…

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ADB sanctions $434.25 million loan for renewable energy development in Assam

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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…

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ADB approves USD 241.3 million for electricity distribution in West Bengal

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The Asian Development Bank (ADB) has approved a USD 241.3 million financing package to enhance electricity distribution in West Bengal, ensuring a reliable and sustainable power supply.  This program aligns with the revamped distribution sector scheme (RDSS) to strengthen operational efficiency in power distribution companies. The West Bengal Distribution System Strengthening Program will cover seven districts, benefiting 8.96 million consumers. Key components of the program include replacing low-tension overhead lines with aerial bundled cables, establishing…

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ADB grants USD 15 million for Tajikistan’s power grid

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The Asian Development Bank (ADB) has approved an additional USD 15 million grant to aid Tajikistan’s efforts in reconnecting its power grid with the Central Asian Power System (CAPS) and enhancing interconnections with Uzbekistan.  This follows the signing of a power trade agreement aimed at restarting electricity trade between the two countries, marking progress toward a renewed regional energy network. The ADB-supported project includes the construction of a new 22 km, 500 kV transmission line…