ADB provides $175 million loan to PGCIL

ADB has approved a $175 million loan to the Power Grid Corporation of India Limited (Powergrid) to expand its solar power transmission network across the country. Further, ADB will provide a $50 million co-financing loan from multi-donor funding agency CTF. Powergrid will use these funds to upgrade power generated by the 2,500 MW solar park in Bhadla, Rajasthan and the 700 MW solar park in Banaskantha, Gujarat. It will also back two additional sub-projects, which will increase solar power generation by 4.2 GW.

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