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

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
Proposed
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
Jan 29, 2019
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
Solar Energy Corporation of India Limited
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)
$ 150.00 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)
$ 400.00 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 @ WB website

Updated in EWS Jan 17, 2019

Disclosed by Bank Nov 18, 2016


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Project 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
  • World Bank (WB)

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

Private Actors
Contact Information

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 .