ADB expands clean energy proj in India with AIIB cofinancing

The Asian Development Bank (ADB) today said it has agreed to finance additional power transmission network components with cofinancing from the Asian Infrastructure Investment Bank (AIIB).
The project will connect with an ADB-financed Green Energy Corridor and Grid Strengthening Project in India, the multilateral agency said in a statement.
To increase energy delivery to more provinces in India, the project will now be expanded to include 400 kilovolt transmission components in Tamil Nadu to connect at Pugalur with the long-distance grid systems financed by ADB, the statement said.
"This first AIIB cofinanced project in India will bring clean energy to more people and help the country achieve its ambitious renewable energy targets," Director of ADB's energy division in its South Asia department Priyantha Wijayatunga said.

ADB's board of directors approved in December 2015 two loans to build and upgrade inter-regional grid systems between the western and southern regions, and high voltage transmission lines and substations in the northern region.
"The system will mainly deliver solar and wind energy to wider locations in India," it said.