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ADB To Lend India 79.3 Mln Dlrs For Wind Energy Project
Manila (AFP) May 02, 2007 The Asia Development Bank (ADB) said Wednesday it had approved a 79.3 million dollar loan to India's largest private power company to set up and operate wind energy facilities. The loan will support Tata Power Co. Ltd in setting up and running wind power facilities in the state of Maharashtra which will produce 100 megawatts of electricity, the ADB said in a statement from its Manila-based headquarters. The rupee-denominated loan comes without government guarantees and is aimed at developing alternative, environmentally sustainable energy sources, the ADB said. It will also hopefully boost economic growth and encourage the private sector of the country and the international community to cooperate in renewable energy development, the ADB added. India is the third largest energy-consumer in Asia, just behind China and Japan, and its growing economy has made it more dependent on fossil fuels which are more polluting. "India urgently needs to explore sustainable energy development and the government has been working proactively to promote the use of renewable energy sources. We are glad we would be partnering with Tata Power to drive this initiative," said Takeo Koike, an ADB investment specialist.
Source: Agence France-Presse Related Links Asia Development Bank Powering The World in the 21st Century at Energy-Daily.com Our Polluted World and Cleaning It Up China News From SinoDaily.com Global Trade News The Economy All About Solar Energy at SolarDaily.com Civil Nuclear Energy Science, Technology and News Powering The World in the 21st Century at Energy-Daily.com
New Transmission Needed To Support Growing Texas Wind Generation Capacity
Austin TX (SPX) Apr 26, 2007Every dollar spent for construction of new transmission lines to support the development of wind resources in Texas will result in a $5 to $7 reduction in energy costs, according to testimony filed Tuesday with the Public Utility Commission of Texas (PUCT) by Electric Transmission Texas, a proposed joint venture between subsidiaries of American Electric Power and MidAmerican Energy Holdings. |
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