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    Summary sheet

    Release date
    3 December 2019
    Status
    Reference
    Approved | 16/12/2019
    20170302
    Project name
    Promoter - financial intermediary
    INDIA SOLAR POWER - FORTUM SOLAR
    FORTUM SOLAR INDIA PRIVATE LTD
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 110 million (EUR 99 million)
    USD 190 million (EUR 170 million)
    Location
    Sector(s)
    • Energy - Electricity, gas, steam and air conditioning supply
    Description
    Objectives

    The project will support the development of five photovoltaic (PV) power plants promoted by Fortum India in Karnataka.

    The PV power plants of 50 MW each will be located in Pavagada solar park, in the Tumkur district. This will contribute to meet the growing electricity demand by emission free power plants. The project applies crystalline silicone PV modules.

    Environmental aspects
    Procurement

    The project, if located in the EU, would fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU leaving to the competent authority the decision as to whether an EIA is required or not. According to the applicable Indian law, PV power projects do not require an EIA. Under the conditions of the related Framework Loan, the final beneficiary is required to carry out an Environmental and Social Impact Assessment (ESIA) study for the project. A comprehensive ESIA study for the project including an Environmental and Social Management Plan (ESMP) has been produced by an external consultant. It concludes that the project has no significant negative environmental and social impacts after mitigation. There is no resettlement envisaged for the project.

    The promoter has to ensure that the implementation of the project is done in accordance with EIB's Guide to Procurement.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - INDIA SOLAR POWER - FORTUM SOLAR
    Publication Date
    24 Dec 2019
    Document language
    Main Topic
    Lending
    Document Number
    123835005
    Document Focus
    Environmental Information
    Project Number
    20170302
    Sector(s)
    Countries
    Publicly available
    Download now
    Environmental and Social Completion Sheet (ESCS) - INDIA SOLAR POWER - FORTUM SOLAR
    Publication Date
    24 Dec 2021
    Document language
    Main Topic
    Lending
    Document Number
    140979569
    Document Focus
    Environmental Information
    Project Number
    20170302
    Sector(s)
    Countries
    Publicly available
    Download now

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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