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Asian Development Bank likely to fund many new projects in power sector
According to officials aware of the development, the ADB representatives who on Friday held a long meeting with the UPPCL top management, expressed willingness for further engagement with the power corporation after funding UP Power Distribution Network Rehabilitation Project (UPDNRP)
Asian Development Bank (ADB) may fund various activities, including financial restructuring of discoms, which the UP Power Corporation Ltd (UPPCL) is planning to carry out in future to make the power sector financially viable.
According to officials aware of the development, the ADB representatives who on Friday held a long meeting with the UPPCL top management, expressed willingness for further engagement with the power corporation after funding UP Power Distribution Network Rehabilitation Project (UPDNRP).
The UPPCL told the visiting ADB team that the corporation was interested in getting funds for projects like modernization of assets through leading, financial restructuring of discoms, reducing losses due to transfer damage, energy accounting and auditing, capacity enhancement of the UP-sector staff, etc.
“The UPPCL also told the team that it would also like to get funds for solarisation of segregated agriculture feeders and installation of solar rooftop at government buildings including schools and hospitals,” said an official.
The UPPCL also informed the ADB team that the current UPDNRP under Trance-1 was on track except for a few contractual issues. It said AB cabling was being undertaken in two discoms in habitations with population greater than 1000. The focus under the UNDNRP-2, it informed the team, would be more on reduction of losses through AB cabling.
“The UPPCL also provided an overview of the revamped distribution sector scheme and its three major components—loss reduction, system strengthening and smart metering and also elaborated the funding process of the scheme,” the official said.
Meanwhile, country director of the Asian Development Bank (ADB), Takeo Konishi on Friday met chief secretary Durga Shankar Mishra to discuss various development projects and their funding in the state.
