NABARD Sanctions a Loan of USD31.27 Million for Haryana
India: The National Bank for
Agriculture and Rural Development (NABARD) has sanctioned a loan of USD31.27
million for Haryana. Out of this, USD22.48 million has been sanctioned for the
construction of 3 rural bridges, construction, and upgradation of 26 rural roads
in 10 districts and remaining USD8.78 million for setting up 10MW solar plant
at Panipat thermal power station. Installation of 10MW Solar Power Plant is
expected to help the state fulfil its renewable energy obligation.
TechSci Research depicts that with the addition in the generation
capacity, government plans to meet the rising demand of electricity in India. The upgradation of existing
infrastructure results in replacement of ageing transformers with new ones
which is a big boost for power and distribution transformers market. The
enhancement in the power transmission capacity requires installation of higher
capacity transformers in the network to meet the requirements of power
transmission.
According to a released report of TechSci Research “India
Power and Distribution Transformers Market Forecast
& Opportunities, 2020”, India is the second-largest power transformers
market in APAC and was valued at USD1.81 billion in 2014 and is projected to
grow at a CAGR of over 10% till 2020. Under the 12th five-year plan
(2012-2017), Indian government allocated USD200 billion for strengthening the
country’s power generation, transmission, and distribution sector. Government
is focusing on adding power generation capacity from conventional and
renewables sources which would increase the orders for power related companies
like ABB, Siemens, BHEL & Alstom T&D.