As stated by the ADB, the proceeds of the ADB financing will be utilized to partially fund the construction and operation of 400 MW AC (500 MW DC) solar-photovoltaic power project located at Ultra Mega Renewable Energy Power Park in Gujarat, India. The Project is part of the total 800 MW AC capacity awarded to SAEL Industries within the same solar park.
The project is aligned with the government's target of reaching at least 500 gigawatts of non-fossil energy capacity, meeting 50% of India's energy requirements from renewable energy, and reducing the carbon emissions intensity of the economy by 45% by 2030.
The ADB categorized the project as follows:
As stated by Devex, SAEL is a Punjab based group having a varied and rich experience of more than 36 years in agro-based industries.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
|Private Actor 2 Sector
|SAEL Industries Limited
ADB Team Leader:
Sumika Nakane - Investment Specialist, Private Sector Operations Department
No contacts provided at the time of disclosure.
Borrower - SAEL Industries Limited:
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.adb.org/forms/request-information-form
ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals
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.