Clean Energy Finance Investment Program - Tranche 1 (ADB-46268-002)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 17, 2014
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Indian Renewable Energy Dev't Agency Ltd. (IREDA)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 733.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 400.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 7, 2020

Disclosed by Bank Mar 7, 2017


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Project Description

This project provides long term financing options for renewable energy projects including wind, biomass, hydropower, and solar. The program supports lending for projects by the Indian Renewable Energy Development Agency. Private capital will increase lending for at least 10 projects and provide project finance training to government officials.

Investment Description
  • Asian Development Bank (ADB)

This project is financed by:

ADB: Ordinary capital resources (Loan): US$ 200 million
European Investment Bank (Loan: US$ 253 million
Japan International Cooperation Agency US$ 280 million

Contact Information

Indian Renewable Energy Dev't Agency Ltd. (IREDA)
Core 4A, East Court
1st Floor, India Habitat Center Complex
Lodi Road, New Delhi - 110 003, INDIA

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main