Mytrah Wind and Solar Power Development Project (ADB-49241-001)

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
Approved
Bank Risk Rating
B
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
Mar 22, 2016
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
Mytrah Aadhya Power Private Limited
The holder of the loan, grant, or other investment.
Sectors
  • Energy
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)
$ 175.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 14, 2018

Disclosed by Bank Feb 19, 2016


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Project Description

ADB is proposing to provide a direct loan facility of up to $175 million to a portfolio of special purpose vehicles (SPVs) owned by Mytrah Energy (India) Ltd. (MEIL). ADB's facility will be structured such that a separate loan will be provided to each project SPV on a project finance (limited recourse) basis. The Transaction being financed comprises 476MW of wind projects in four SPVs in Rajasthan, Madhya Pradesh, Andhra Pradesh and Karnataka and 100MW of solar projects in two SPVs in Telangana and Punjab.

Investment Description
  • Asian Development Bank (ADB)
Contact Information

PROJECT CONTACTS
Project Officer
Choudhary, Mayank
Private Sector Operations Department

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