ADB Invests in Hydro and Wind Power in India
1 May 2013: The Asian Development Bank (ADB) made a US$30 million equity investment in NSL Renewable Power Private Ltd. (NRPPL) for the construction of hydropower and wind power projects designed to generate 530 gigawatt-hours of electricity in India. The projects are expected to decrease carbon dioxide emissions by 400,000 tons per annum after 2017.
This is the first equity investment by the ADB in an Indian private sector company involved in renewable energy. Part of the investment will be used for the construction of the Tidong run-of the river hydropower Project, expected to generate 100 megawatts, and the Chilarewadi wind project, which will generate 75 megawatts. The agreement for the investment was signed at the 46th Annual Meeting of the ADB on 1 May 2013. [ADB Press Release]