The Asian Development Bank (ADB) has sanctioned a $434.25 million loan to support renewable energy development and strengthen energy security in Assam. Reportedly, the Assam solar project will establish a 500 MW grid-connected solar photovoltaic facility in Karbi Anglong district. Additionally, a grid-connected battery energy storage system will be developed to stabilize the grid and meet peak power demands.
This project reportedly aligns with Assam’s renewable energy goals, helping the state create a comprehensive renewable energy roadmap, and aiming to increase the state’s solar capacity and meet its target of 3,000 MW by 2030.
In July 2024, ADB sanctioned a $240 million loan to support rooftop solar systems across India, allocating the funding through State Bank of India (SBI) and National Bank for Agriculture and Rural Development (NABARD).
In May 2024, ADB granted a $148.5 million loan to bolster Sikkim’s energy distribution, improve system’s quality and enhance resilience in rural healthcare facilities by incorporating solar and energy-efficient solutions.
