ADB to finance major power upgrade in Tripura
Asian Development Bank (ADB) will be supporting Tripura Government with $220 M to undertake a major power sector revamp in the northeastern state.
Image source: T&D India
India, Tripura: Asian Development Bank (ADB) will be supporting Tripura Government with $220 M to undertake a major power sector revamp in the northeastern state.
According to the information available, the overall project will cost approximately $275 M (Rs 2,275 crore) out of which $220 M (Rs 1,820 crore) will be financed by ADB as a loan. The remaining $55 M (Rs 455 crore) will come from the Tripura state government.
The project officially termed as “Tripura Power Distribution Strengthening & Generation Efficiency Improvement Project” was approved by ADB on 10 November 2022. The ADB loan takes effect from 31 January 2023.
According to information available from ADB and other sources, the project is aimed at improving energy security, quality of supply, efficiency, and resilience of the power sector in Tripura. The project will finance the replacement of the ageing 63 MW open-cycle gas-powered Rokhia power plant with a highly efficient 120 MW combined-cycle gas power plant that will reduce greenhouse gas emissions through fuel saving.
The project also envisages investments in the power distribution network to increase the generation capacity, efficiency, and resilience of the power sector against climate change and natural disasters. The project is expected to generate employment opportunities for around 7,000 people.
Source: T&D India
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