Distributed Energy Storage Solutions Project (ADB-50227-001)

Regions
  • East Asia and Pacific
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
Sep 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
Fluidic Incorporated
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)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 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 Oct 31, 2017

Disclosed by Bank Aug 30, 2016


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Project Description
According to ADB website, the investments will provide institutional capital to support Fluidic''s recent entry into a growth phase backed by a large client book, a master agreement with Caterpillar and MOU's for some of the world's largest rural electrification projects. The project will contribute to regional progress in achieving Sustainable Development Goal 7: expanding universal access to affordable, reliable and modern energy services by 2030. Through the adoption of clean energy by more service providers like telecom operators and implementation of modern rural electrification projects, sustainable and distributed energy solutions will enhance quality of life and drive increased economic activity across the region. The project will play a pioneering role in demonstrating the commercial viability of distributed energy storage in the Asia and Pacific region, encouraging widespread investment in energy storage and renewable energy across ADB DMCs.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Singh, Samarendra Private Sector Operations Department, ADB No contact information provided at the time of disclosure. 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