4 May 2017
Promoter – Financial Intermediary
RENEW SOLAR ENERGY (TELANGANA) PRIVATE LIMITED
The project concerns the construction and operation of a solar photovoltaic (PV) plant with a capacity of 143 MWac in the Indian state of Telangana.
The project is in line with EU policy in the area of climate change, as it would contribute to the development of renewable energy, and the associated avoidance of greenhouse gas emissions. It will support the development of a sustainable and secure supply of energy that is necessary for India's long-term economic growth and development. It will also bring economic benefits to the region through the production of energy from renewable resources, the displacement of imported fuel costs, the expanded use of domestic resources and the reduction of greenhouse gas emissions and other airborne pollutants. It supports the EU-India Strategic Partnership, which promotes, inter alia, cooperation in curbing climate change. Similarly, this is in line with the Indian National Action Plan on climate change mitigation.
- Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
USD 43 million (EUR 37 million)
Total cost (Approximate amount)
USD 155 million (EUR 132 million)
The project, if located in the EU, would fall under Annex II of the Environmental Impact Assessment (EIA) Directive, leaving the competent authority to decide as to whether or not an EIA is required. According to the applicable Indian law, PV plants 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. Details of the project's authorisation process, ESIA and implementation of the environmental and social management plan (ESMP) will be analysed during appraisal.
The Bank will require the promoter to ensure that implementation of the project is done in accordance with the Bank's Guide to Procurement.
Approved - 14/11/2017