Nonsovereign Project | 42922-014 Status: Approved



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Project Number 42922-014
Country India
Location India
Approval Number 7300
Type or Modality of Assistance
7300 Equity Investment USD 40.00 million Committed
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

Energy - Renewable energy generation - small hydro - Renewable energy generation - wind

Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 1
Responsible ADB Officer Siddhartha Shah
Project Sponsor(s) Foreign investors to be confirmed.
NTPC Limited
Objectives and Scope

The joint venture company intends to develop, construct, and operate a portfolio of 500 megawatts (MW) of renewable energy projects, initially focused on wind power and small hydroelectric power, in India. The company brings ADB together with the leading state-owned enterprise in power generation in India and two of the world's top diversified energy companies. ADB's role in the development phase of this JVC has been to facilitate the process and bridge the gaps between the parties' risk perceptions and their expectations from the investment in the renewable sector in India. As an honest broker, ADB provides direct comfort to both the local and foreign investors through its proposed equity participation in the JVC.

The JVC will achieve an outcome of 500 MW of additional renewable power generation by 2017 by implementing projects through public-private partnership, thus catalyzing investment from the private sector. The investment will help diversify India's energy mix away from its dependence on fossil fuels, notably coal-fired thermal projects, toward more sustainable energy sources.

Linkage to Country/Regional Strategy The project is fully aligned with ADB's Energy Policy. The policy states that support for renewable energy projects will be prioritized and broadened. To this end, ADB has set the target of promoting clean energy investments of more than $2 billion annually and that support to the projects will contribute to this target. The policy emphasizes private sector participation as a tool to enhance energy sector efficiency by introducing increased competition and increased investable resources. The project is aligned with the India country partnership strategy, 2013 2017, which calls for investments in renewable energy development.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples B
Summary of Environmental and Social Aspects
Environmental Aspects As an equity investment, this will be classified as environmental category FI. Given the nature and general location of projects to be financed by the loan, the investment has been classified as B/C under the ADB Involuntary Resettlement Policy (1995) and B from the perspective of the ADB Policy on Indigenous Peoples (1998). The JVC will implement an environmental and social management system (ESMS) fully consistent with ADB's safeguard policies, and will screen, assess, and monitor projects at the appropriate stage of due diligence. The JVC will covenant not to finance activities on ADB's list of prohibited investments.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation Proper consultations shall be held with respect to individual investments in accordance with company ESMS.
Timetable for assistance design, processing and implementation
Concept Clearance 21 Jan 2008
Due Diligence 15 May 2008
Credit Committee Meeting 12 Mar 2009
Approval 28 Apr 2009
PDS Creation Date 28 Mar 2009
Last PDS Update 16 Sep 2014
Title Document Type Document Date
Public-Private Partnership for Renewable Energy Development Reports and Recommendations of the President Apr 2009
Public-Private Partnership for Renewable Energy Development Initial Poverty and Social Analysis Mar 2009

Safeguard Documents

See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

Title Document Type Document Date
Public-Private Partnership for Renewable Energy Development Environment and Social Safeguards Frameworks Mar 2009

Evaluation Documents

See also: Independent Evaluation

None currently available.

Related Publications

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