India: Clean Energy Finance Investment Program - Tranche 1

Sovereign Project | 46268-002 Status: Active

Summary

Latest Project Documents

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Procurement Notices See also: Operational Procurement

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Procurement Documents

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Project Name Clean Energy Finance Investment Program - Tranche 1
Project Number 46268-002
Country India
Project Status Active
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 3186-IND: Clean Energy Finance Investment Program - Tranche 1
Ordinary capital resources US$ 200.00 million
Loan: Clean Energy Finance Investment Program - Tranche 1
European Investment Bank US$ 253.00 million
Loan: Clean Energy Finance Investment Program - Tranche 1
Japan International Cooperation Agency US$ 280.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Finance - Infrastructure finance and investment funds

Gender Equity and Mainstreaming No gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues) The loan was effective from 1 February 2016. In March 2016, IREDA is submitting to ADB the subprojects for review and approval for initial disbursement.
Geographical Location

Safeguard Categories

Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI

Summary of Environmental and Social Aspects

Environmental Aspects The due diligence will review (i) IREDA's current safeguards policies and framework, (ii) assess IREDA's track record and capacity, (iii) identify any gaps with ADB's Safeguards Policy Statement (2009), (iv) suggest required modifications to ensure alignment with ADB's requirements and (v) capacity building requirements to fill gaps, if any.
Involuntary Resettlement The due diligence will review (i) IREDA's current safeguards policies and framework, (ii) assess IREDA's track record and capacity, (iii) identify any gaps with ADB's Safeguards Policy Statement (2009), (iv) suggest required modifications to ensure alignment with ADB's requirements and (v) capacity building requirements to fill gaps, if any.
Indigenous Peoples The due diligence will review (i) IREDA's current safeguards policies and framework, (ii) assess IREDA's track record and capacity, (iii) identify any gaps with ADB's Safeguards Policy Statement (2009), (iv) suggest required modifications to ensure alignment with ADB's requirements and (v) capacity building requirements to fill gaps, if any.
Stakeholder Communication, Participation, and Consultation
During Project Design Extensive consultations have been conducted on executing agency (IREDA) and subproject levels on, respectively, (i) IREDA's institutional capacity, including management structure, financial and risk management, credit procedures, existing environment and social safeguard practice, and subproject compliance with local laws and regulations; and (ii) subproject transaction structure, financial performance, technical review, and environment and social safeguard reviews. On the subproject level, consultations have also been conducted in the local communities of the subproject sites during the facility due diligence.
During Project Implementation During facility implementation, IREDA shall establish an environment and social safeguard unit, fully staff it, and follow the guidelines developed in the environment and social safeguard management system when accessing the ADB funds. This includes consultations on the subproject level, required for due diligences on environmental impact, indigenous people, and involuntary resettlement, including the establishment of grievance redressal mechanism and the review of land acquisition process, all in the local communities of the subproject sites.

Business Opportunities

Consulting Services All procurement to be financed under the MFF will be carried out in accordance with ADB's Procurement Guidelines. ADB will encourage IREDA to require its subborrowers to adopt internationally competitive bidding procedures to the extent possible when the amount of the investment is unusually large and economy and efficiency can be gained through such procedures. For procurement of goods and services to be financed by subloans from the ADB loan, IREDA will ensure that prices are reasonable and that relevant factors , e.g., time of delivery, efficiency, reliability, suitability for the subproject, and (for consulting services) quality and competence are taken into account.
Procurement All procurement to be financed under the MFF will be carried out in accordance with ADB's Procurement Guidelines. ADB will encourage IREDA to require its subborrowers to adopt internationally competitive bidding procedures to the extent possible when the amount of the investment is unusually large and economy and efficiency can be gained through such procedures. For procurement of goods and services to be financed by subloans from the ADB loan, IREDA will ensure that prices are reasonable and that relevant factors, e.g., time of delivery, efficiency, reliability, suitability for the subproject, and (for consulting services) quality and competence are taken into account.

Responsible Staff

Responsible ADB Officer Anqian Huang
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Indian Renewable Energy Dev't Agency Ltd. (IREDA)
Core 4A, East Court
1st Floor, India Habitat Center Complex
Lodi Road, New Delhi - 110 003, INDIA

Timetable

Concept Clearance -
Fact Finding -
MRM 29 May 2014
Approval -
Last Review Mission -
Last PDS Update 01 Mar 2016

Loan 3186-IND

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
17 Nov 2014 27 Oct 2015 01 Feb 2016 30 Apr 2019 - -
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 400.00 Cumulative Contract Awards
ADB 200.00 17 Nov 2014 0.00 0.00 0%
Counterpart 200.00 Cumulative Disbursements
Cofinancing 0.00 17 Nov 2014 10.03 0.00 5%

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.

None currently available.

Evaluation Documents See also: Independent Evaluation

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Related Publications

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