World Bank approves USD200 million for boosting renewable energy adoption in Himachal Pradesh

World Bank’s Board of Executive Directors has approved a loan of USD200 million to the Government of Himachal Pradesh to facilitate power sector reforms in the state and increase the share of renewable energy in the state’s electricity generation.

This will contribute to the state’s overall aim of adding 10 GW of additional renewable energy capacity to make the state’s power supply greener. The USD200 million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 14.5 years including a grace period of 4.5 years. Himachal Pradesh aims to become a green state by meeting 100 per cent of its energy needs through renewable and green energy by 2030.