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Himachal Pradesh | World Bank approves $200 million to expand renewable energy access in Himachal Pradesh
The World Bank’s Board of Executive Directors has approved a two hundred million dollar loan to the Himachal state government to facilitate power sector reforms and increase the share of renewable energy.
Diarytimes Media Network, Shimla
Reported By Kumud Sharma
Published – 28 June, 2023
Highlights –The World Bank’s Board of Executive Directors has approved a two hundred million dollar loan to the Himachal state government to facilitate power sector reforms and increase the share of renewable energy.
The World Bank’s Board of Executive Directors has approved a two hundred million dollar loan to the state government to facilitate power sector reforms and increase the share of renewable energy.
This will give a boost to the target of adding 10,000 megawatt additional renewable energy capacity in the state.
The state government has set a target of becoming a green state by the year 2030 by meeting 100 per cent of its energy needs through renewable and green energy.
At present, Himachal meets more than eighty percent of its energy demands through hydropower.
The World Bank Himachal Pradesh Power Sector Development Program will help the state enhance the use of its existing renewable energy resources, including hydropower.
Through this one hundred and fifty mega watt solar capacity will increase and green house gas emissions will decrease by more than one lakh ninety thousand metric ton every year.
Team leader of the program Surbhi Goyal and Piyush Dogra told that the power sector development program will promote good and sustainable practices in power utility in Himachal.
The maturity period of the loan sanctioned by the World Bank is fourteen and a half years and includes a grace period of four and a half years.
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