Innovation in Solar Power and Hybrid Technologies (WB-P160379)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
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."
Voting Date
Jan 29, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Solar Energy Corporation of India 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)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 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.
Project Cost (USD)
$ 400.00 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 @ WB website

Updated in EWS Jan 17, 2019

Disclosed by Bank Nov 18, 2016

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Contact the EWS Team

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 document, the project will support the Solar Energy Corporation of India Ltd. (SECI) to finance innovative renewable energy (RE) and battery energy storage solutions (BESS) subprojects to demonstrate applications that can be deployed at a large scale in India’s power system, and build SECI’s market facilitation capacity in a rapidly evolving RE market through monitoring and disseminating its experience in design, construction, operation and contractual arrangements to renewable market stakeholders in India. The proposed project has two components: Component A: Investments in Innovative Renewable Energy (RE) Solutions Component B: Technical Assistance, Capacity Building, Implementation Support, Monitoring and Dissemination."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Co-financing:
Borrower US$ 200 million
Clean Technology Fund US$ 50 million

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Solar Energy Corporation of India 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.

World Bank

Surbhi Goyal
Senior Energy Specialis

Gailius J. Draugelis
Lead Energy Specialist

Borrower/Client/Recipient

Solar Energy Corporation of India Limited
Jatindra Nath Swain
Managing Director
corporate@seci.gov.in

Implementing Agencies

Solar Energy Corporation of India Limited
Jatindra Nath Swain
Managing Director
corporate@seci.gov.in

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx .

How it works

How it works