NEW DELHI, March 20 (UPI) -- The Power Grid Corp. of India received a $600 million loan from the World Bank to help it build more reliable transmission systems.
The Hindustan Times cited analysts as saying India's growth potential is limited by its shortage of electricity services with more than 40 percent of the population without electricity.
The Power System Development Project-IV is also aimed at reducing transmission losses to help trim the cost of energy and allowing the transfer of power from surplus hydroelectric power states to power-deficient regions.
"India's policy reforms in the power sector are beginning to pay off," said Isabel Guerrero, World Bank country director for India. "The sector's financial performance is improving and more and more villages are being electrified."
The World Bank has been involved in the reform and development of the transmission sector in India, and specifically in the creation and strengthening of the power grid.
