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ADB, Bhutan sign loan agreement for solar power project

24 Sep 2024
World
ADB, Bhutan sign loan agreement for solar power project
Manila, Sep 25 (IANS) The Asian Development Bank (ADB) said it has signed a US$30 million loan agreement with Bhutan to fund a solar power project.The Distributed Solar for Public Infrastructure Project aims to generate up to 35 megawatts of solar power systems on rooftops of public infrastructure across the country, according to Xinhua news agency.According to the bank, energy security in Bhutan has become a growing concern because of rising electricity demand and insufficient power supply, particularly during winter.The project will support Bhutan's national priority of enhancing the climate resilience of energy systems and addressing energy security concerns through the diversification of energy sources.The project came with a technical assistance grant of 1 million dollars from the ADB's Technical Assistance Special Fund and Clean Energy Fund under the Clean Energy Financing Partnership Facility, the bank said.--IANSint/sd/

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)