The $310 million loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a final maturity of 25 years.
The meters are expected to provide consumers with better access to data which will encourage them to reduce their electricity consumption. To begin with, the project will finance smart metering for around 350,000 consumers in the capital city of Ranchi.
The Project will also support smart meters, with two-way communication and backend IT infrastructure, deployed in select urban towns. These meters will not only reduce technical and commercial losses, but also improve peak load management.
Major components of the project include construction of new substations & transmission lines, primarily at 132kV voltage level; provide support to the Jharkhand Urja Sancharan Nigam Limited (JUSNL) in setting-up systems for strengthening the State Load Dispatch Centre operations.
Govt of Jharkhand has achieved significant results towards electrification. As per data from the Jharkhand Distribution Company more than 80% of all citizens in the State have access to electricity.
Project will help the State increase supply of reliable electricity to households, industries, businesses and various other productive sectors, and contribute to poverty alleviation, and inclusive growth in Jharkhand. This will help integrate renewable energy in the State grid.
With demand for reliable power expected to almost double in the coming years, the project will help meet the energy needs of the State for its economic growth. The Govt of Jharkhand is committed to providing quality power supply to its people for the State’s economic development.
Jharkhand was one of the first States’ to join the Power for All plan and is making efforts to improve access to power through reforms in transmission and electricity distribution.
The Project is part of the Government of India’s Power for All program launched in 2014. The plan envisages addition of over 4.5 GW generation capacities by 2022 (including a significant share of 1.5 GW from solar energy), through a mix of Private and Public-sector investments.
While a significant portion of the proposed investments are aimed at improving power transmission infrastructure,the Project will also focus on developing institutional capacities of State-owned power transmission & distribution companies & improving their operational performance
The project will help bring in modern technology solutions such as automated sub-stations, and network analysis and planning tools to provide reliable power supply and enhance customer satisfaction.
The Jharkhand Power System Improvement Project will help build new power transmission infrastructure, as well as put in place systems to improve the technical efficiency and commercial performance of the state power sector utilities.
The Government of India, the Government of Jharkhand and the World Bank signed here today in New Delhi a $310 million Loan Agreement for Jharkhand Power System Improvement Project to provide reliable, quality, and affordable 24x7 electricity to the citizens of Jharkhand.
