ADB to help India develop wind potential

24 April 2008


The Asian Development Bank (ADB) is to help India to develop its clean energy resources through a $113 million loan for two wind energy projects.

The ADB is extending a rupee-denominated loan to cover approximately half the cost of two projects that will add a total of 183 MW to the grid in Gujurat and Karnataka states. The projects are being developed by an Indian subsidiary of Hong Kong’s CLP Holdings.

“This project will help India’s economic growth and energy diversification in an environmentally sustainable manner,” said Shantanu Chakraborty, Investment Specialist in ADB’s Private Sector Operations department. “It will also help enhance private sector participation in energy generation by demonstrating the successful implementation of large-scale wind power projects.”

The Gujarat and Karnataka wind power projects have a total estimated cost of Rs9.9 billion. ADB is loaning Rs4.45 billion, and the private sponsors will use internal funds and long-term debt from other sources to complete the funding requirements.

India is ranked fourth in the world for installed wind power generation, behind Germany, the US, and Spain. As of September 2007, India had more than 7200 MW of installed wind power capacity against a gross potential of more than 45 000 MW.

Gujarat and Karnataka are two of the leading states in India for wind power generation but are suffering from power shortages.




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