ADB Approves $434 Million Loan for Assam’s Solar Energy Expansion

The Asian Development Bank (ADB) has approved a $434.25 million loan to boost Assam’s renewable energy capacity, aiming to increase solar energy production to 3,000 MW by 2030. The project includes constructing a 500 MW grid-connected solar facility in Karbi Anglong and developing a battery energy storage system for grid stability.

ADB will also support private investment in renewable energy and help establish a public-private partnership for an additional 250 MW solar facility. The initiative will enhance electricity distribution and strengthen Assam’s energy security.