Nonsovereign Project | 42922-014


Project Details

  • Project Officer
    Shah, Siddhartha
    Private Sector Operations Department
    Request for information
  • Country/Economy
  • Modality
  • Sector
    • Energy
Project Number 42922-014
Country / Economy India
Type or Modality of Assistance
7300 Equity Ordinary capital resources INR 2,052.60 million Committed
Strategic Agendas Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

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

Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 1
Responsible ADB Officer Shah, Siddhartha
Project Sponsor(s)
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.

Status of Operation/Construction The JVC was incorporated and registered under the name 'Pan-Asian Renewables Private Ltd.' in October 2011.
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, 20132017, 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
Credit Committee Meeting 12 Mar 2009
Approval 28 Apr 2009
PDS Creation Date 28 Mar 2009
Last PDS Update 16 Sep 2014

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

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

None currently available.

The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.