Signing of Japanese ODA Loan Agreement with India: Promoting Renewable Energy with Variable-Speed Pumped Storage Power Generation Developed in Japan
On November 2, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of India in Delhi to provide a Japanese ODA loan of up to 29.442 billion yen for the Project for the Construction of Turga Pumped Storage (I).
Under the project, a new pumped storage power plant with variable-speed equipment will be constructed in West Bengal State to increase the peak power generation capacity and to strengthen the response capability in order to improve the power supply stability, thereby contributing to industrial development and living standard improvements in West Bengal.
A pumped storage power plant works as a large storage battery to generate power during peak demand periods and pumps from a lower dam to an upper dam during low-consumption periods such as at night. The variable-speed technology developed in Japan facilitates adjustments to the output, a feature that is suitable for renewable energy.
Details for the project are provided below.
1. Terms and Amount of Loan
|Project title||Amount (million yen)||Annual interest rate (%)||Repayment|
|Project for the Construction of Turga Pumped Storage (I)||29,442||1.5||0.01||30||10||General untied|
2. Executing Agency
West Bengal State Electricity Distribution Company Limited
Address: Vidyut Bhavan, Block-DJ, Sector-II, Bidhannagar, Kolkata – 700091
3. Planned Implementation Schedule
(1) Completion of project: May 2027 – when pilot operation of all the power generators is complete
(2) Issuing of letters of invitation for consulting services (including detailed design work): January 2019
(3) Tender announcement of initial procurement package for international competitive bidding on project construction:
Procurement package titles: Civil Works
Hydro Mechanical Equipment
Release date: September 2020