To build phase two of the Green Energy Corridor(GEC) in the state, the German bank KFW and Tamil Nadu Transmission Corporation have inked an agreeme nt for a loan.
The Ministry of New and Renewable Energy will contribute 33% of the project’s funding in the form of a grant, and KFW will contribute 47% of the project’s costs in the form of a loan. The remaining 20% will come from the Tamil Nadu Transmission Corporation Limited as equity (Tantransco).
According to the ministry’s directive, the tender must be announced by December 2023, a senior Tantransco official said.
The state-owned power utility has planned to start the bidding process sooner since it has signed an agreement with KFW. The work has been scheduled to be completed by 2025-2026.
“GEC phase-2 scheme will add 10,753 circuit kilometres of transmission lines and 27,546 mega-volt-amperes capacity of substations in seven states – Gujarat, Himachal Pradesh, Karnataka, Rajasthan, Tamil Nadu, and Uttar Pradesh,” he said.
