Release date: 30 May 2017
Promoter – Financial Intermediary
ADANI GREEN ENERGY (TAMILNADU) LTDLocation
Description
The project is an allocation under the SBI INDIA SOLAR POWER framework loan. The loan will contribute to financing two photovoltaic (PV) power plants of 216 MW and 72 MW (including grid connection) which are part of the same development but implemented under different special purpose vehicles (SPVs). The project is located in the district of Ramanathapuram, Tamil Nadu, in India.
Objectives
The project is in line with the EU policy in the area of climate change, since it will 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 energy supply that is necessary for the long-term economic growth and development of India. 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 provides, inter alia, for cooperation in curbing climate change. Similarly, this is in line with the Indian National Action Plan on climate change mitigation.
Sector(s)
Proposed EIB finance (Approximate amount)
USD 52 million (EUR 47 million)
Total cost (Approximate amount)
USD 271 million (EUR 242 million)
Environmental aspects
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 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.
Procurement
The Bank will require the promoter to ensure that implementation of the project is done in accordance with the Bank's Guide to Procurement.
Status
Under appraisal - 30/05/2017
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).