India makes a sizable investment in Hydro
India has signed an agreement to borrow $208 million from the Asian Development Bank to support the development of a two large hydropower initiatives. The borrowed money is part of several loans for the Pradesh Clean Energy Development Investment Program, aimed at constructing on-river hydropower projects totalling 856 megawatts in the state by 2015.
Preceded by a large loan, this borrowed amount will be allocated towards second and third-stage development of the 195-MW Integrated Kashang Hydroelectric Project in the district of Kinnaur, India and for the 100-MW Saini Hydroelectric Project in the district of Kullu, India. The final piece of funding is for the 450-MW Shongtong-Karcham Project.
The Himalayas provide India with abundant hydropower resources. Five rivers flow from the world's tallest mountain range, and hold a hydro potential of 23,000 MW, which is equivalent to 25 percent of India’s total hydropower capacity. On top of providing abundant clean energy to India, the project aims to gain carbon credits from the project as part of the Clean Development Mechanism of the Kyoto Protocol.
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