Introduction:
Today, the Government of India and the Asian Development Bank (ADB) signed an agreement to make use of a loan from the ADB in the amount of $200 million. The purpose of this loan is to enhance the quality, efficiency, and dependability of the power supply in the state of Uttarakhand.
The loan agreement for the Uttarakhand Climate Resilient Power System Development Project was signed by Ms. Juhi Mukherjee, Joint Secretary of the Department of Economic Affairs in the Ministry of Finance, representing the Government of India, and Mr. Hoe Yun Jeong, Deputy Country Director and Officer-in-Charge of the Asia Development Bank’s India Resident Mission, representing the Asian Development Bank.
ADB BANK
Detailed Description:
Following the signing of the loan agreement, Ms. Mukherjee stated that the funding from the Asian Development Bank (ADB) for the project will help reinforce the infrastructure of the power system and assist Uttarakhand in realizing its aim of supplying power to its citizens around the clock.
Through the implementation of this project, the capacities of the power system network will be improved, which will make it easier to integrate and transmit renewable energy to load centers in a seamless manner. “At the same time, it entails upgrading the distribution system in order to minimize power outages and reduce technical losses,” Mr. Jeong explained.
A sophisticated and climate-resistant underground cable system will be installed as part of this project, which will result in the modernization of the power network infrastructure in the city of Dehradun.
This system will consist of 537 kilometers of underground cables, 354 ring main units, and 99 compact substations. In addition, it will strengthen the existing power system by adding upstream substations and the power lines that are linked with them.
This will assist in meeting the growing demand for electricity, reducing the amount of congestion on the network, and improving the dependability of power distribution in urban and suburban areas.
Another Project on Pipeline:
Through the implementation of this project, women’s self-help organizations in rural hilly districts will be given the opportunity to improve their standard of living by gaining access to renewable energy sources and energy-efficient equipment at their disposal.
In addition to facilitating training programs for communities, the Asian Development Bank (ADB) will also conduct awareness and instructional initiatives in schools to promote employment prospects in the energy sector.
These programs will focus on energy conservation and business management skills. As part of the initiative, non-governmental organizations will be involved in the implementation and monitoring of activities related to livelihood sources.
This initiative will get a grant of two million dollars from the Japan Fund for Prosperous and Resilient Asia and the Pacific, which is funded by the Japanese government through the Asian Development Bank (ADB). The cash will be used to support programs that aim to improve livelihoods, provide training, and raise awareness.
In order to build climate-resilient power sector projects, the Asian Development Bank (ADB) will provide support for the capacity development of the Power Transmission Corporation of Uttarakhand Limited and the Uttarakhand Power Corporation Limited.
This will be accomplished through the implementation of leadership courses and project management programs. In addition to this, it will work together with the Energy Department to develop a road map for the energy transition in order to facilitate the transition to a low-carbon economy in Uttarakhand.
