Release date: 20 September 2016
Promoter – Financial Intermediary
SPECIAL PURPOSE ENTITY(IES)/FUNDLocation
Description
The project is composed of two allocations under the IIFCL ENERGY SUSTAINABILITY & CLIMATE ACTION framework loan. The allocations are to finance two wind farms, developed by the same promoter. One wind farm (100 MW) is located in Andhra Pradesh and one (92MW) in Madhya Pradesh.
Objectives
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.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
EUR 186 million
Environmental aspects
The two wind farms, 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.
Procurement
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.
Status
Approved - 15/11/2016
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).