ADB clears $451-m loan for power connectivity in Chennai-Kanyakumari Industrial Corridor
Asian Development Bank (ADB) has approved a $451-million loan to strengthen power connectivity between the southern and northern parts of the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.
The ADB project will allow more power, including renewable energy, to be transferred from new generation facilities in the south CKIC to the north, where it is most in demand,” said ADB Principal Energy Specialist for South Asia Pradeep Perera. “This will help promote economic development by delivering a more reliable and competitive power supply for industry and services in the State, which will in turn spur jobs and improve livelihoods,” he said in press release.
The State is aiming to develop the northern Chennai–Tiruchirappalli area of CKIC as a manufacturing centre while targeting the relatively less developed southern Madurai–Thoothukudi portion for the development of renewable energy-based power generation because of the availability of wind and solar resources.
