France provides €80m loan to India for two hydropower projects
French development agency AFD has provided an €80m loan for the development of two hydroelectric plants (HEP) in the Indian state of Himachal Pradesh.
AFD's deputy director in India Herve Dubreuil signed the agreement with the Department of Economic Affairs' (DEA) joint secretary Selvakumar, reported IANS.
The 30MW Deothal Chanju HEP and 48MW Chanju III HEP projects located in the Chanju river basin will offer 78MW of renewable energy to the state.
The two plants will generate 280GWh of power annually besides helping to reduce CO² by 276,000t. The projects will be developed by the Himachal Pradesh Power Corporation Limited (HPPCL).
The government has allotted the HPPCL with hydropower projects totaling 3,111MW. By 2022, it is required to achieve an hydropower installation target of 934MW. The Government of Himachal Pradesh will have 20% equity in the projects.
The government claims that these two power facilities will not lead to displacement of the population, reported PTI.