MANILA, Oct. 29 (Xinhua) -- The Asian Development Bank (ADB) announced on Wednesday that it has approved a 460-million-U.S.-dollar results-based loan to modernize rural power infrastructure, promote distributed renewable energy generation, and improve agricultural productivity by providing farmers with reliable daytime solar electricity for irrigation in the state of Maharashtra, India.
According to the ADB, the agriculture solarization program aligns with the state's Power Sector Vision 2030, which seeks to accelerate renewable energy adoption, improve rural energy access, and strengthen the financial sustainability of the power sector.
An additional 40 million dollars concessional loan from the Clean Technology Fund (CTF), administered by ADB, will complement the program.
The ADB said the program will solarize agricultural feeders, upgrade rural distribution networks, deploy battery energy storage systems, and promote green jobs and entrepreneurship-particularly for women.
By 2028, the program aims to provide daytime electricity to at least 900,000 agricultural consumers and reduce annual greenhouse gas emissions by over 3 million tons.
Key program components include modernizing Maharashtra's distribution network to make it renewable-energy-ready and contributing to a viability gap funding facility to support 1,000 megawatts (MW) of decentralized solar generation. Enditem
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