According to bank documents, "the project involves financing of a 250 MW solar project being developed by a special purpose vehicle, Clean Solar Power (Jodhpur) Private Limited (“CSPJPL” or the “company”), which was awardedthe projectthrough a competitive bid, at a tariff of INR 2.53 /kWh. CSPJPL signed a 25-year Power Purchase Agreement (“PPA”) with Solar Energy Corporation of India Limited (“SECI”) in November 2018. As per the PPA, the scheduled commercial operation date (SCOD) is October 2020"
HDFC Bank (Debt) US$ 25 million
IFC (Debt) US$ 43 million
Hero Solar Energy Private Limited (Equity) US$ 54 million
According to the bank document,
Parent Company: Hero Future Energies Private Ltd. (HFEPL) (Indian Holding Co.) It is an investee company of International Finance Corporation (IFC).
Sponsor:Hero Solar Energy Private Ltd. (HSEPL), a subsidiary of HFEPL.
Amit Kumar, Senior Investment Operations Specialist
ACCOUNTABILITY MECHANISM OF AIIB
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.