Latest News | ADB to Provide USD 200 Mn Loan for Uttarakhand Climate Resilient Power System Project

New Delhi, Dec 13 (PTI) Government of India and the Asian Development Bank (ADB) on Wednesday signed an agreement for a USD 200 million loan to improve the quality, efficiency, and reliability of power supply in Uttarakhand.

The signatories to the loan agreement for the Uttarakhand Climate Resilient Power System Development Project were Juhi Mukherjee, Joint Secretary, Department of Economic A?airs and Hoe Yun Jeong, Deputy Country Director and Officer-in-Charge of ADB's India Resident Mission, for ADB, the finance ministry said in a statement.

Also Read | UPSC CMS Exam Result 2023: Combined Medical Services Examination Marks of Recommended Candidates Released at upsc.gov.in, Know How To Check.

"The ADB funding for the project will strengthen power system infrastructure and help Uttarakhand in achieving its goal of providing 24x7 power to its residents," said Mukherjee after signing the loan agreement.

"The project will enhance the power system network's capabilities, facilitating the seamless integration and transmission of renewable energy to load centres. Simultaneously, it involves upgrading the distribution system to minimize power outages and reduce technical losses," said Jeong said.

Also Read | RBI Assistant Prelims Exam 2023 Results Likely To Be Declared Soon at opportunities.rbi.org.in, Know How To Check.

The project will modernise Dehradun city's power network infrastructure by introducing an advanced and climate-resilient underground cable system comprising 537 km subterranean cables, 354 ring main units, and 99 compact substations.

Additionally, it will enhance the current power system by installing upstream substations and their associated power lines that will help meet increasing electricity demand, reduce network congestion, and improve power distribution reliability in urban and suburban areas, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)