INDIA SOLAR POWER - FORTUM SOLAR

Promoteur – Intermédiaire Financier

FORTUM SOLAR INDIA PRIVATE LTD

Lieu

• Inde

Description

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

Objectifs

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.

Secteur(s)

• Énergie - Production et distribution d'électricité, de gaz, de vapeur et d'air conditionné

Montant BEI envisagé (montant approximatif)

USD 110 million (EUR 99 million)

Coût total (montant approximatif)

USD 190 million (EUR 170 million)

Aspects environnementaux

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.

Passation des marchés

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

Statut

Approuvé - 16/12/2019