Updated Dec 19, 2020 | 13:57 IST
Upgradation of the power distribution network in Uttar Pradesh will restore the financial sustainability of the rural electricity supply in the state, said Additional Secretary, Department of Economic Affairs ADB, India sign $300 mn loan to upgrade power distribution network in UP | Photo Credit: IANS
New Delhi: The Asian Development Bank (ADB) and the Indian government on Friday signed a $300 million loan to upgrade rural power distribution networks to provide reliable electricity supply to consumers in the state of Uttar Pradesh.
The signatories to the tranche 1 loan for Uttar Pradesh Power Distribution Network Rehabilitation Project were Dr CS Mohapatra, Additional Secretary, Department of Economic Affairs (DEA) in the Ministry of Finance and Mr Takeo Konishi, Country Director of ADB’s India Resident Mission, according to a Finance Ministry statement.
Asian Development Bank issued the following announcement on Dec. 1.
The Asian Development Bank (ADB) has approved a $430 million multitranche financing facility (MFF) to improve the quality and reliability of electricity supply in Uttar Pradesh in India.
The Uttar Pradesh Power Distribution Network Rehabilitation Project will improve the efficiency and sustainability of power supply in Uttar Pradesh. The project will finance the conversion of 65,000 kilometers (km) of rural low-voltage distribution lines from bare conductors to aerial bundle conductors to benefit an estimated 70 million people in 46,000 rural villages. It will also finance the construction of a parallel network of 11-kilovolt feeders with a total length of 17,000 km to separate the distribution of electricity between residential consumers and agriculture consumers. This will facilitate the use of solar energy to meet the agriculture demand, increase in electricity supply duration to rural residential consumers, a