India: ENGIE Solar Power Project (AIIB-000768)

  • South Asia
Geographic location where the impacts of the investment may be experienced.
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
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 Development Bank (ADB)
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
Enren Energy Private Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 95.00 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.
Loan Amount (USD)
$ 95.00 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)
$ 274.00 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.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Sep 14, 2023

Disclosed by Bank Jul 4, 2023

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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, the objective of the project is to promote electricity generation from solar energy resources through private capital mobilization in Gujarat. The Project involves the development, construction and maintenance of a 400MWAC solar power project in Gujarat, India. (Project).Offtake of the Project is underpinned by a 25-year Power Purchase Agreement (PPA) for 100% of the capacity that is signed with Gujarat Urja Vikas Nigam Limited (GUVNL) at a tariff of INR2.49 per kWh.


AIIB's Environmental and Social Policy (ESP), including the Environmental and Social Standards (ESSs) and Environmental and Social Exclusion List ESS1 (Environmental and Social Assessment and Management) is applicable to the Project. The proposed Project is being considered alongside ADB and will likewise be prepared in accordance with ADB's Safeguard Policy Statement (SPS). Based on preliminary information and due to the limited number of potentially adverse environmental and social impacts, none of which are unprecedented or irreversible, the Project has been tentatively assigned Category "B" subject to further availability of transmission line alignment and ESIA in accordance with the AIIB ESP and consistent with ADB SPS. E&S Categorization will be finalized following the due diligence by the Bank and coordination with ADB counterparts, prior to the final review.

Environmental Aspect

A draft critical habitat screening report has been shared. A list of 31 species have been screened as a critical habitat candidate species out of which 2 species are believed to be likely critical habitat trigger. Detailed critical habitat assessment (CHA) is awaited. If CHA is triggered, a tailored biodiversity management plan will be developed and the E&S categorization for the Project will also need to be re-considered. An Environmental and Social Due Diligence (ESDD) is underway following an Environment and Social Impact Assessment (ESIA) study in accordance with AIIB's ESP. It is important to assess the adverse impacts during construction of this project which will include change of land use, soil erosion and contamination, solid wastes, water use for construction and workers, air pollution, noise, occupational health and safety (OHS) and community health and safety issues. The Environmental and Social Management Plan (ESMP) to be included should suggest mitigation measures to address the potential negative impacts, labor and OHS issues. It also elaborates the ES management system of Borrower, the role and responsibilities of concerned department in Borrower, reporting and documentation requirements, and training programs and capacity building for this Project.

Climate Change Risks and Opportunities

The Project is expected to contribute to GoI's renewable energy target to achieve net zero carbon emissions by 2070 and to meet 50% of its electricity needs from renewable sources by 2030. The Bank team will work with ADB counterparts to ensure the analysis of climate change mitigation and adaptation in relation to the Project will be carried out and the greenhouse gas emission reduction throughout the life cycle of the Project will be quantified. Climate change risks such as flooding and onshore category 1 storms likelihood should be discussed in the ESDD and ESIA report as well as the design planning to minimize the risk should be included.

Social Aspects

The Project footprint is 2000 acres (+-10% based in site constrains) along with the transmission line roughly [500] m in length. Detailed breakdown of land requirement for Project components is not available at this stage. Land acquisition process should follow the requirements of AIIB's ESS2 on Involuntary Resettlement. Land details, title holders and transmission line routes are not available as of now. Due diligence and ESIA should confirm present status of land procurement as well as corresponding social impacts arising from project activities.


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

The total Project cost will be financed in a debt-to-equity ratio of 73:27. AIIB is considering a loan up to USD 95 million with balance debt being considered by ADB.

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.


Asian Infrastructure Investment Bank

Amit Kumar

Senior Investment Operations Specialist


Asian Development Bank

Aarti Mehra

Principal Investment Specialist


Solairedirect Energy India Private Limited (SEIPL)

Mukesh Kumar

Head of Acquisitions, Investment and Financial Advisory (AIFA), India



You can submit an information request for project information at:


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:

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:

How it works

How it works