Canara Renewable Energy Financing Scheme (NDB-canararenewableenergy)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
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
Apr 13, 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
Canara Bank
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ NDB website

Updated in EWS Mar 6, 2020


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Project Description

According to the bank website, "The objective of the project is to support renewable energy financing through the Renewable Energy Financing Scheme, established by Canara Bank. This financing scheme will help advance the Government of India's initiative in the renewable energy sector. The loan provided by NDB will be on-lent through Canara Bank to renewable energy sub-projects, including wind, solar, small hydropower, biomass, geo-thermal, waste-to-energy, and other renewable energy projects.

The project will help provide more liquidity for long term financing to on-lend to renewable energy projects. It will also enhance institutional capacity of Canara Bank to scale up lending for sustainable development in the energy sector."

Investment Description
  • New Development Bank (NDB)

Co-financing:
Borrower US$ 150 million
Other sources US$ 100 million

Private Actors
Contact Information

No contact information provided at the time of disclosure.