Shimla- The World Bank has agreed to fund the 'Himachal Pradesh Power Sector Development Program' with Rs. 1600 Crore (200 million USD)
The program aims to bring about reforms in the power sector of Himachal Pradesh, focusing on integrating renewable energy, improving the state's power grid, and strengthening the capacity of power utilities.
CM Sukhvinder Singh Sukhu said the funding is expected to be available by August 2023 and will span a duration of five years.
The program will also install new solar generation capacity and upgrade the power network within the state.
The efforts will be made to enhance environmental and social systems and encourage women's participation in the power sector.
The approval was given by the World Bank Board on June 27, 2023, and the agreement is expected to be finalized in July 2023, with the first installment of funds arriving in August 2023.
