Release date: 19 July 2019
Promoter – Financial Intermediary
MAHINDRA RENEWABLES PRIVATE LTDLocation
Description
The project consists of an allocation under the operation Yes Bank (India) Climate Action Framework Loan (2016-0527). It is a 250 MW (AC) solar energy project in the state of Madhya Pradesh.
Objectives
The project will contribute to the development of renewable energy projects undertaken by private sector enterprises in India, reducing gas pollution and greenhouse gas emissions.
Comments
The project is co-financed by the International Finance Corporation (IFC, part of the World Bank Group).
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
USD 84 million (EUR 74 million)
Total cost (Approximate amount)
USD 168 million (EUR 148 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 an EIA is required or not. According to the applicable Indian law, solar 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 the project. 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 EIB will monitor the procurement process to ensure compliance with the guidelines.
Status
Approved - 21/06/2019
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).