India: Enel Green 300 MW Solar Project - Rajasthan (AIIB-000473)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bikaner District, Rajasthan
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 15, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Thar Surya 1 Private Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ AIIB website

Updated in EWS Nov 22, 2021

Disclosed by Bank Feb 5, 2021


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to AIIB documents, the objective of this project is to promote electricity generation from solar energy resources through private capital mobilization. This involves the development, construction, and maintenance of a 300MWAC solar power project in Bikaner District, Rajasthan, India. Offtake of the project will be underpinned by a 25-year Power Purchase Agreement that will be signed with the Solar Energy Corporation of India. 

-The project is expected to contribute to GOI’s renewable energy target of 2022. The carbon reduction due to this Project will be calculated during the Project preparation. The project is estimated to result in the avoidance of GHG emissions of approximately 592,174 tons of CO2 equivalent annually.

- The proposed project is being considered alongside IFC and has been prepared in accordance with IFC Sustainability Framework comprising the Policy on Environmental and Social Sustainability, Performance Standards (PSs), and Access to Information Policy. To ensure a harmonized approach to addressing the environmental and social (ES) risks and impacts of the Project, and as permitted under AIIB’s Environmental and Social Policy (ESP), IFC’s PSs are applicable for this Project in lieu of AIIB’s ESP. 

-Several consultations were conducted as part of the ESIA preparation. An Environmental and Social Review Summary and the ESAP are disclosed on April 8, 2021, on IFC website. A SEECA (Social, Environmental and Economic Context Analysis) study has been prepared in October 2020, including social baseline, stakeholder identification and the distribution of project benefits, as well as a Creating Shared Value (CSV) Action Plan.

-Land requirement for project components is said to be procured through lease arrangements -instead of permanent purchase- with private landowners and allocation of government revenue land. Land lease process is currently underway, 90% of which is told to be completed. The broad terms of the lease agreement, the lease period and the lease rate were confirmed through consultations with landowners from whom land has already been leased for the project.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

BORROWER

Mukesh Kumar

Project Manager

infoegpindia@enel.com

PROJECT TEAM LEADERS

Asian Infrastructure Investment Bank
Pratyush Mishra

Investment Operations Specialist

pratyush.mishra@aiib.org

 

IFC
Ankur Sood

Investment Officer

asood5@ifc.org

 

 

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html

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