Washington: The World Bank has approved a US$600 million loan to the Power Grid Corporation of India to strengthen the country's electricity transmission system and increase reliable power exchange between regions and states

Announcing the loan backed by a government of India guarantee, the bank said Tuesday the Fourth Power System Development Project (PSDP IV) aims to reduce transmission losses and cut the cost of energy through further investments in transmission systems.

It will also contribute to the clean energy initiative through both the ability to transfer surplus hydro energy to power deficit regions in India and relieve some of the pressure to build generation facilities, particularly in and around the major load growth centres

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Posted by dcjaya at March 19, 2008 5:58 PM