Commercial and Industrial Decarbonization Project (ADB-57336-001)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
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
B
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
Fourth Partner Energy Private Limited
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)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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 Oct 17, 2024

Disclosed by Bank Apr 11, 2024

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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’s website, ADB will invest in s Fourth Partner Energy Private Limited (FPEL). The company’s strategy has evolved to focus on larger ground mounted projects and wind-solar hybrid projects to fulfil a greater percentage of a consumer’s electricity demand and open-access (OA) projects connected to central transmission utilities that allow the Company to sell electricity to a consumer located anywhere in the country. The proposed investment opportunity is spread across different states Maharashtra, Karnataka, Tamil Nadu, and Rajasthan and other states.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Category B for involuntary resettlement (IR) is maintained to anticipate potential IR impacts of future investments and subprojects. In case of IR impacts, the company is required to develop and implement resettlement plan (RP)/ livelihood restoration plan (LRP) for specific subproject/s per ADB requirements.
Indigenous Peoples impacts is categorized as C as there are no indigenous peoples/scheduled tribes affected by the project. There are also no communal resources or use by tribal groups on land acquired for the project. No broad community support (BCS) is required.

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.

Fourth Partner Energy Private Limited is India’s leading Renewable Energy (RE) solutions company, catering to Commercial & Industrial (C&I) businesses. The company offers Energy-as-a-Service (EaaS) to help businesses offset almost 100% of their energy requirement through clean and green sources. Founded in 2010 as a solar products and EPC company, it has emerged a leading RE solutions provider owing to in-house expertise across energy analysis, design, financing, procurement, construction, operation and maintenance of renewables infrastructure and offers allied services.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Fourth Partner Energy Private Limited 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.

No contacts available at the time of disclosure.

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.

How it works

How it works