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The project is an allocation under the IIFCL ENERGY SUSTAINABILITY & CLIMATE ACTION framework loan. The loan is to finance a 100 MW wind farm in the state of Madhya Pradesh including the required civil infrastructure and the connection to the national grid.
The project will contribute to the development of renewable energy projects undertaken by private sector enterprises in India, reducing air pollution and greenhouse gas emissions.
The wind farm, 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 the conditions of the related framework loan, the promoter is required to carry out an environmental and social impact assessment (ESIA) study for each wind farm. The Bank will review ESIA documentation during appraisal and ensure adherence to its environmental and social standards.
The implementation of the project will be done in compliance with the Bank's Guide to Procurement. The Bank will monitor the procurement process to ensure compliance with the guidelines.