New Delhi, Nov 20 (GCBusiness) The Union Government and the Jharkhand government and the World Bank on Tuesday signed a 310 million dollars loan agreement for Jharkhand Power System Improvement project to provide reliable, quality, and affordable 24×7 electricity in the state.
The project will help build new power transmission infrastructure, as well as put in place systems to improve the technical efficiency and commercial performance of the state power sector utilities. It will also help bring in modern technology solutions such as automated sub-stations, and network analysis and planning tools to provide reliable power supply and enhance customer satisfaction.
While a significant portion of the proposed investments are aimed at improving power transmission infrastructure, the project will also focus on developing institutional capacities of state-owned power transmission and distribution companies and improving their operational performance.
The project is part of the Union Government’s Power for All program launched in 2014. The plan envisages addition of over 4.5 GW generation capacities by 2022 through a mix of private and public-sector investments.
Some of the major components of the project include construction of new substations and transmission lines, primarily at 132kV voltage level; provide support to the Jharkhand Urja Sancharan Nigam Limited (JUSNL) in setting-up systems for strengthening the State Load Dispatch Centre (SLDC) operations including financing software solutions for improving scheduling and dispatch functions. This will help integrate renewable energy in the State grid.
The 310 million dollars loan from the International Bank for Reconstruction and Development (IBRD), has a five-year grace period, and a final maturity of 25 years.