Government of India will provide a financing facility worth about Rs. 1600 Crore through the World Bank for the “Himachal Pradesh Power Sector Development Program,” a spokesperson of Directorate of Energy said on Tuesday. The overall cost of the scheme, including State equity, will be around Rs. 2000 crore. By the beginning of next year, World Bank funding under this programme is anticipated to be available. The World Bank and the Department of MPP & Power, GoHP, are both moving quickly to complete the program’s preparedness. The Program will run from 2023 to 2028 for a total of five years. This programme intends to implement comprehensive power sector changes in a way that will enable advancements in the integration of renewable energy in the State.
The programme, according to the spokesperson, intended to implement comprehensive changes to the electricity sector that would enhance the integration of renewable energy in the state. Improvements in the use of state power sector resources like hydro and solar, an increase in the transmission and distribution levels of grid reliability, and a strengthening of institutional capacities of various state power utilities and agencies are the main outcomes areas that this is aiming for.
Through these actions, the state will be able to maximise the revenue it receives from the sale of energy.
Strengthening the environmental and social system relevant to the state’s power industry will be one of the primary interventions through this World Bank-supported programme, allowing for better monitoring and assessment of these aspects.
