THE Indian Renewable Energy Development Agency (ireda), the financing arm of the Union ministry of nonconventional energy sources, is finalising a US$ 100 million assistance package from the Manila-based Asian Development Bank (adb). This follows a technical assistance study initiated by adb in August 1994 at a cost US$ 354,000.
The loan is targeted primarily at 3 sectors: bagasse-based cogeneration, methane recovery from distilleries and industrial wastes, and solar thermal systems for which about $50 million is to be earmarked. A similar amount is to be set aside for wind energy.
The loan will augment ireda's finances from external sources by about 50 per cent. The organisation is already receiving a World Bank-Global Environment Facility line of credit to the tune of US$ 195 million for 1993-98 to create a power generation capacity of 187.5 mw. Says ireda managing director V Bakthavatsalam, "The adb line of credit is yet another assertion of the buoyancy of the renewable energy sector in India."
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.
Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.