Agartala, Jan 01: Tripura's power sector is going to witness a robust change with investment of Rs. 3000 crore in the next three to five years, according to Deputy Chief Minister Jishnu Dev Varma.

Dev Varma, who also holds Power portfolio, said the investment would further strengthen the power generation and distribution network in Tripura to ensure 24X7 uninterrupted power supply.
Addressing a press conference recently, he also said, Tripura government has signed an agreement for ADB-assisted power project of Rs 2,275 crore (US$275 Million).
He said the state government signed the project agreement with the Asian Development Bank (ADB) for strengthening power distribution and generation efficiency improvement.
“It is a historic moment for Tripura and its people. This power project is the highest investment package in the power sector of Tripura so far. It is also the biggest single project in the history of Tripura in any infrastructure sector," he commented in the press conference.
The project would have a Rs. 1820-crore ($220 million) loan from ADB and Rs 455 crore ($55 million) of direct investment by the State Government. The Project would improve energy security, quality of supply, efficiency, and resilience of the power sector in Tripura, he said.
On behalf of the Tripura government, the Deputy Chief Minister expressed gratitude to Union Minister for Finance- Nirmala Sitharaman and the Asian Development Bank for making this possible and approving and giving such a huge gift to the people of Tripura at the beginning of the New Year.
The Project agreement was signed between Brijesh Pandey, Secretary of Power Department on behalf of Government of Tripura and Nilaya Mitash, Officer-in-Charge of ADB's India Resident Mission.
The project would support the Government of Tripura's efforts to strengthen its power sector by replacing inefficient power plants and strengthening the distribution by reduced network losses and to meet increasing demand of electricity to boost the state’s economy.
The Power minister said, the State Government has not increased electricity rates for the last 5 years to ensure affordable and reliable power to all. All the increase in the cost of electricity has been borne by the State Government.
A total investment of above Rs. 2000 crore has been made in last five years to strengthen the Power Sector Transmission and Distribution network in Tripura, he added.