Power Sector Reforms in Himachal: World Bank sanctions Rs 1,600 crore
Shimla
The World Bank on Wednesday sanctioned Rs 1,600 crore to Himachal Pradesg for reforms in power sector in renewable energy, improvements in grid reliability at the transmission and distribution level.
Informing about this, Chief Minister Sukhvinder Singh Sukhu said the grant is sanctioned under HP Power Sector Development Program for holistic reforms for renewable energy integration.
With the Himachal government’s equity in the program, the total cost will be around Rs 2,000 crore which will be available by August 2023 for five years, i.e. 2023-28.
The World Bank board approved the funding in a meeting at Washington DC and an agreement to this effect is likely to be signed by July 2023.
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“The improvements in utilization of the state’s power sector resources in renewable energy, reliability of grid at transmission, distribution level and strengthening of the institutional capacities of the states’ is undertaken under World Bank program,” the CM said.
Sukhu said the government will make efforts to promote energy resources planning for a comprehensive overhaul of the sector, power demand management, utilization of hydro-power assets and a single trading desk.
The interventions are aimed at maximizing Hiimachal’s revenue that is earned through the sale of power to other states via renewable balancing capacity.
Under the World Bank program, the state aims to install new solar power plants to generate 200 MW of renewable energy and these projects will be implemented through HPPCL and HIMURJA.
It will also strengthen the environment and social systems and the focus will be laid on the ‘gap analysis of the existing norms, regulations, and the existing studies’.
