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ADB to lend $1 bn to PowerGrid for expansion

Published

9 years ago

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New Delhi: The Asian Development Bank (ADB) on Thursday said it would lend $1 billion to state-run Power Grid Corporation for expanding its transmission capacity in the country.

“ADB is to provide a $500 million government-backed loan and a further $500 million in non-sovereign lending to India’s national transmission company, Power Grid Corporation of India Ltd,” ADB said in a statement here.

“The new transmission lines connecting renewable energy-rich areas to the national grid will enhance connectivity between the regions by bringing clean energy to more people, making the overall Indian power system more efficient, and improving India’s overall energy security,” Hun Kim, Director General of ADB’s South Asia Department, was quoted as saying.

The loans will fund building and upgrading high voltage transmission lines and substations in Rajasthan and Punjab, as part of government’s Green Energy Corridor initiative.

“To increase energy delivery from India’s west to southern region, the project will also include new high-voltage direct current terminals in Chhattisgarh, Tamil Nadu, and Kerala states, boosting interconnectivity between the regions,” the statement said.

The government has announced a national renewable energy target of 175 GW by 2022, while PowerGrid’s funding needs for the interstate Green Energy Corridor are estimated at $3.5 billion.

“The combination of ADB’s sovereign-backed and private sector loans is an innovative financing solution that provides PowerGrid with a large, competitive and efficient source of funding,” Todd Freeland, director general of ADB Private Sector Operations, was quoted as saying.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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