World Bank and THDC India Ink $648M Deal for Uttarakhand Hydropower, Aiming for Low-Carbon Energy and Reduced Emissions.

A US$648 million loan agreement was signed between the World Bank and THDC India Ltd for the construction of the 444 MW Vishnugad Pipalkoti Hydropower Project on the Alaknanda River in Uttarakhand. The project aims to generate 1,665 million kilowatt-hours of low-carbon electricity annually, addressing power shortages in North India. It will supply electricity to nine states and reduce greenhouse gas emissions by 1.6 million tons yearly. The project includes infrastructure like a diversion dam and tunnels, with minimal environmental impact and social safeguards. Uttarakhand will receive 12% of the generated power as royalty, supporting local development initiatives.