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ADB adds to northern India hydropower project investments

Uttarakhand

The government of Uttarakhand has signed a US$150 million loan agreement with the Asian Development Bank (ADB) intended to help fund hydropower projects in the Indian state.

The ADB loan is the fourth tranche of the Uttarakhand Power Sector Investment Programme, which will ultimately add as much as 2,500 MW of hydroelectric power to India's grid.

The loan has a 25-year financing term including a grace period of five years, commitment charges of 0.15% and an interest rate to be determined in accordance with ADB's London Interbank Offered Rate (LIBOR)-based lending facility.

Uttarakhand, located in India's north, is already the site of the 300-MW Lakhwad and 195-MW Kotlibhel 1A hydropower plants -- both of which are currently being developed.

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