New Delhi, April 16 : POWERGRID signed agreements for three loans totaling to US$ 826 million from Asian Development Bank on 30th March 2012, which includes Sovereign Guaranteed loans of US$ 500 million and US$ 76 million, and Commercial loan of US$ 250 million without Sovereign Guarantee.
US$ 500 million Sovereign Guaranteed loan together with US$ 250 million loan without Sovereign Guarantee will be utilized for establishment of +800kV HVDC inter-regional transmission link from Champa (Chhattisgarh, WR) to Kurukshetra (Haryana, NR) for transfer of bulk power from IPPs in Chhattisgarh.
For the first time, Sovereign and Commercial loan (without Sovereign Guarantee) bundled together is being availed from ADB.US$ 76 million loan will be utilized for implementation of transmission systems in UTs of Daman & Diu and Dadra & Nagar Haveli.