Himachal inks $800-mn power deal with ADB

The Himachal Pradesh government today entered into a memorandum of understanding(MoU) with the Asian Development Bank (ADB) to procure $800 million (about Rs 3,800 crore), the highest loan for hydel power generation in the country.

This loan amount will be used to execute four medium and large hydro projects in the state under the HP clean energy development investment programme. The agreement was signed here today by Govind Mohan, director (infrastructure), Department of Economic Affairs, and ADB country-director Tadashi Kondo.

Officials said the deal will ensure setting up four medium to large hydro electric projects — Sawra-Kuddu (111 Mw), Kashang-I, II and III (195 Mw), Sainj project (100 Mw) and the Shongtong-Karchham (402 Mw).