The Asian Development Bank (ADB) has extended an eight-year loan of $ 800 bn to Himachal Pradesh to finance the construction of hydropower projects with a combined capacity of 808 Mw.
It is to help the Indian state expand hydro power generation with a series of projects in western Himalayas, with the overall estimated cost of the projects at about $ 1.5 billion.
With the help of the eight-year loan package, the state plans to harness five major rivers to build hydro power plants that will provide a combined capacity of 808 Mw, the Manila-based bank said in a statement.
The state govt will finance $ 450 million while the remaining $ 250 million will be financed by financial institutions, the statement added.
Recognising the state's water reserves Himachal Pradesh in 2006 had approved a Hydro Power Policy aimed at making it the "hydro power state" of India.
