Additional Financing for Grid-Connected Rooftop Solar Program (WB-P160018)

Countries
  • India
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
Active
Bank Risk Rating
B
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
Nov 15, 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
State Bank of India
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 22.94 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)
$ 524.94 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 @ WB website

Updated in EWS Jul 31, 2017

Disclosed by Bank May 1, 2016


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Project Description
The development objective of the Program for Results Grid-connected Rooftop Solar Program for India is to increase installed capacity of Grid-connected Rooftop Solar Photovoltaic (GRPV) and to strengthen the capacity of relevant institutions for GRPV. The proposed additional GEF grant will support the overall GRPV Program, by (i) providing incentives to State Bank of India (SBI), to lend to riskier categories of GRPV customers, such as non-banking financial institutions (NBFCs) and small and medium enterprises (SMEs) which wish to finance and install GRPV; and (ii) strengthening the investment climate for GRPV by building capacity of the main stakeholders involved in the expansion of GRPV. The objectives of the proposed GEF grant were already incorporated in the objectives, design, or results/DLIs of the original GRPV Program. There are no changes or updates proposed to the information and/or technical, fiduciary, and social and environmental assessments contained in the Program Appraisal Document (PAD) presented to the Board on 13th May, 2016.
Investment Description
  • World Bank (WB)
Global Environment Facility (Gef): 22,935,780.00 Global Environment - Associated Ibrd Fund: 500,000,000.00 Borrower: 2,000,000.00
Contact Information
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.