IREDA-RENEWABLE ENERGY AND ENERGY EFFICIENCY FL2

Framework loan to finance small and medium-scale capital investments in renewable energy and energy efficiency

The project will contribute to the development of renewable energy projects undertaken by private sector enterprises in India, reducing gas pollution and greenhouse gas emissions.

The project, if located in the EU, would fall under Annex II of the Environmental Impact Assessment (EIA) Directive, leaving to the competent authority the decision as to whether an EIA is required or not. According to the applicable Indian law, wind power projects do not require an EIA. Under these conditions IREDA has agreed to have the project promoters conduct a rapid environmental and social assessment for the renewable energy projects, to be decided during the appraisal of the mission and depending on the size of the projects, in line with the Bank's environmental and social standards.

The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.