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Asian Development Bank gives Rs 5 billion loan for Gujarat solar power supply grid

Earlier this year, speaking at the inauguration of the Gujarat Solar Park,Senior Climate Change Specialist of the Asian Development Bank (ADB) Naoki Sakai said the bank has already invested US$100 million in Gujarat’s solar designs, and proposed US$ 500 million more on concessional terms for four main purposes — smart grid development for efficiency, building a second solar park within the state, expansion with solar smart transmission which will help stabilise erratic solar power supply, and vocational training with Gandhinagar-based Pandit Deendayal Petroleum University (PDPU).

According to reports, the Asian Development Bank has sanctioned a low-interest loan of Rs 500 crore loan for the construction of a Solar and Renewable Power transmission grid, a first in the country. The construction of the power grid will be undertaken by the Gujarat Energy Transmission Company Ltd.

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