EGP India - Thar (IFC-44816)

  • 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
Bikaner, 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
  • 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
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."
Voting Date
Jun 3, 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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 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)
$ 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 31, 2021

Disclosed by Bank Apr 8, 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 IFC, " the proposed project involves a debt investment in Thar Surya 1 Pvt. Ltd. (“Project Company”) to finance the  construction of a 300 MWac solar PV project in Bikaner, Rajasthan, India."

-The project is sponsored by Enel Green Power S.p.A. (“EGP”), which is one of the largest renewable energy (“RE”) developer in the world with 49 GW installed capacity across wind, solar, geothermal and hydropower projects, and with presence in 28 countries.

-The project is being developmed by one of EGP's step down subsidiaries. The Project was awarded to the Project Company in July 2020 by Solar Energy Corporation of India (SECI) and the Project will sell the generated electricity to SECI under a 25 year PPA.

-Siemens Gamesa Renewable Power Private Limited was appointed as Engineering, Procurement and Construction (EPC) contractor for the project in November 2020. The Operation and Maintenance (O&M) contractor is yet to be finalized.

-The route for the external transmission line has been identified, however, as of February 2021 acquisition of the Right of Way (RoW) for the transmission line had not yet started. Initial construction activities are expected to start in March 2021, and commissioning is expected in December 2021. Timeline for completion of the transmission line is in September 2021.

-There are three other solar power plants under planning or construction stage located within 10 km of the project boundary. One 250 MW plant is operational, a 600 MW plant is under construction and a third plant is too early in the planning stages to confirm generation capacity.                                        



People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The project area is composed of a mosaic of near-natural and modified habitats. The natural habitat is mainly shrubland-dominated desert dunes. The modified habitat includes patches of arable land and dispersed rural settlements. There are six villages within 5 km of the project area. The total population of these villages as per Census of India 2011 is 4,125. The nearest protected area, Jorbeer Bird Sanctuary, is located 30 km away. The arable lands support only rainfed cultivation, and the shrubland vegetation serve as fodder for local livestock. Non-farming livelihoods are increasingly common, especially among younger generations.

Projected impacts by IFC during the construction period: air quality and noise impacts, community safety impacts from the temporary influx of project vehicles and non-resident workers, occupational health and safety (OHS) risks for workers, contractor management, resource efficiency, and waste management.

Projected impacts by IFC during operations: stakeholder engagement and biodiversity management – especially monitoring and mitigating potential soaring bird collisions with the transmission line.                                                  

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

The total debt financing includes (a) IFC’s own account investment of c. US$ 50 million in INR (b) c. US$ 100 million be mobilized by IFC through parallel lenders.

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.

Thar Surya 1 Private Limited
Mukesh Kumar
Project Manager
12th Floor, Crescent 1, Prestige Shantiniketan, ITPL Main Road, Whitefield, Bengaluru - 560 048


You can submit a request for information disclosure at:

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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