Scaling Up Demand Side Energy Efficiency Sector Project (ADB-52196-001)

Countries
  • India
Geographic location 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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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."
Borrower
Energy Efficiency Services Limited (EESL)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 250.00 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)
$ 250.00 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.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 25, 2020

Disclosed by Bank Nov 29, 2018

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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 the bank website, The Asian Development Bank (ADB) will provide a loan to Energy Efficiency Services Limited (EESL), to be guaranteed by the Government of India, to support scale-up of investments in a growing energy efficiency market in India. ADB's loan will support expansion of EESL's business lines to include: (i) smart meters and other intelligent energy management system elements; (ii) electric mobility including charging infrastructure; and (iii) on-grid solar energy at existing distribution substations to reduce losses in agricultural feeders. ADB is now administering a grant from the Global Environment Facility (GEF) to support expansion of EESL's ESCO business to new energy efficient technologies, and the proposed loan will help scale up and accelerate deployment of those technologies and replicate success achieved by the ongoing ADB project. This will be the second ADB investment to EESL to support replication, scale up, and expansion of energy savings investments. A sector loan financing modality is proposed for this project because there is a sector road map and capacity, and it allows for the early implementation of subprojects with high readiness and the expansion of coverage to include newer subprojects as they are developed, irrespective of physical location.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the ADB, Since its incorporation in 2009, EESL has created a new normal for more efficient lighting, pumping, and buildings, and will continue to service these traditional end-use market segments that present potential savings of terawatt-hours per year. EESL is expanding its market scope to include upstream efficiency opportunities that have not been targeted by traditional energy service company (ESCO) investments. New business models are being tested and improved to address more expansive opportunities, including on-grid distributed renewable energy in the last mile of on-grid supply to rural agricultural areas and electric mobility. Continued efficiency gains across energy supply chain spectra will reduce the need for new centralized electricity generation plants, facilitating the future decommissioning of obsolete fossil-fuel power plants

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Energy Efficiency Services Limited (EESL) Client -

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.

Responsible ADB Officer Acharya, Jiwan S.
Responsible ADB Department South Asia Department
Responsible ADB Division Energy Division, SARD
Executing Agencies
Energy Efficiency Services Limited
A-13, IWAU Building, 4th Floor Sector-1, Noida - 201301 Uttar Pradesh

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

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