Eligibility Criteria

Eligible solar power projects must be:

• at least 50% privately controlled and owned
• have signed a long-term power purchase agreement (PPA) either under:
  • the National Solar Mission (NSM) scheme or
  • a separate declared state solar power policy (e.g. Gujarat)
• meet the ADB Solar PCG eligibility criteria

ADB will consider direct financing and/or guarantees for larger (>25 MWe) solar projects (both PV and CSP) but will evaluate the merits on a case by case basis. Sponsors are encouraged to first ensure that the projects meet the eligibility criteria and then contact the partner commercial banks directly.

Prospective financial institutions must be approved in advance by ADB’s investment committee.  They will be screened and selected by the ADB based on a number of factors including:Credit standing (at least BBB- equivalent long-term credit rating by international credit rating agency or AA equivalent long-term credit rating by an acceptable local credit rating agency)

• Experience and capabilities in limited recourse lending in India and/ or Asia
• Existing portfolio in the power sector
• Willingness and ability to make financial commitments in renewable energy in India
• Senior management commitment
• Staffing, management and technical capability
• Operating policies, guidelines, and systems in loan origination, credit assessment and loan administration and enforcement