According to DFC, the proposed investment will lead to installation, maintenance, and sales of power to commercial clients from rooftop solar panels operated by the Foreign Enterprise.
The Project is expected to have a highly developmental impact on India by expanding the use of clean solar power. The Insured for this Project will utilize the DFC insurance to support the installation of rooftop solar solutions for commercial
clients across the country. India’s demand for power is expected to triple over the next 20 years, but its heavy reliance on coal presents a significant environmental challenge. Currently, only 36 percent of power consumption is supplied through renewables, and the country ranks 80 out of 137 for grid reliability according to the Global Competitiveness Report. With these challenges, the government of India has made increasing access to renewable power a priority. On-premises rooftop solar power solutions address both of these weaknesses with renewable power that does not solely rely on the national grid to get power to the customer over long distances. The Insured Investor provides full-scale solar solutions, through long-term PPAs with clients to operate and maintain the rooftop solar units. In addition, the Project will help India achieve U.N. Sustainable Development goal 7(Affordable and Clean Energy).
Environmental and Social Categorization and Rationale
The Project has been reviewed against DFC’s Environmental and Social policies and determined to be categorically eligible. Small-scale rooftop solar PV projects are screened as Category B projects under DFC’s environmental and social guidelines because
impacts are site-specific and readily mitigated.
No contact information was provided at the time of disclosure.
ACCESS TO INFORMATION
Unlike many other development finance institutions, DFC does not currently have an access to information policy.
Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia
ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)
The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.
You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability