The Project involves the construction and operation of at least 1,000 MW of renewable power generation, across various states in India. Of the total 1,000 MW, 325 MW has already been commissioned and another 174 MW will be commissioned by end March 2014. The remaining capacity is expected to be commissioned by 2015.
| Project Name | ReNew Power Investment Project | ||||
| Project Number | 47926-014 | ||||
| Borrower/Company | RENEW POWER VENTURES PVT LTD |
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| Country | India |
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| Location | |||||
| Approval Number | 7406 | ||||
| Type of ADB Assistance / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Private sector development |
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| Sector / Subsector | Energy - Renewable energy generation - solar |
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| Gender Equity and Mainstreaming | No gender elements | ||||
| Responsible ADB Department | Private Sector Operations Department | ||||
| Responsible ADB Division | Portfolio Management Division, PSOD | ||||
| Responsible ADB Officer | Taneja, Anshukant | ||||
| Project Sponsor(s) | GS Wyvern Holdings Limited Sumant Sinha & Cognisa Investments |
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| Description | The Project involves the construction and operation of at least 1,000 MW of renewable power generation, across various states in India. Of the total 1,000 MW, 325 MW has already been commissioned and another 174 MW will be commissioned by end March 2014. The remaining capacity is expected to be commissioned by 2015. | ||||
| Objectives and Scope | ADB''s investments will be used to partially fund the ReNew Power Ventures Private Limited (_ReNew_ or _the Company_) equity injection in the pipeline portfolio of at least 560 megawatts (MW) of additional wind power capacity energy projects. The project is expected to accelerate India''s economic growth by providing additional large scale power generation capacity in India. It will contribute to the development of renewable energy generation and help reduce global greenhouse gas emissions in line with United Nations' Millennium Development Goals. The project will help in preserving India's energy mix by increasing the level of reliance on indigenous renewable resources. |
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| Status of Development Objectives | Project is still under implementation. | ||||
| Status of Operation/Construction | The company has been doing well along expected lines. | ||||
| Material Changes | - | ||||
| Linkage to Country/Regional Strategy | The project is consistent with ADB's Strategy 2020. It relates to two of the five core specializations of the bank: infrastructure and environment. In particular, the strategy calls for ADB's support for clean energy development to meet growing energy demands in a sustainable manner. The project will also contribute to the bank's operational goal of scaling up private sector development and private sector operations. The project will also contribute to ADB's operational goal of scaling up private sector development. The project is aligned with the India country partnership strategy, 2013-2017, which calls for 'investments in renewable energy development, particularly solar'. |
| Safeguard Categories | |
|---|---|
| Environment | B |
| Involuntary Resettlement | B |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | The project is classified as category B for impacts on the environment. The potential environmental impacts of the subprojects are generally site-specific, reversible, and mostly associated with construction activities which can readily be addressed through mitigation measures. These typically include land clearing for site preparation and access roads, transportation of components and materials, excavation and construction of foundations, and installation of equipment. Issues may potentially include occupational and community health and safety, visual intrusion, noise and vibration, soil erosion, and threat to bird and bat population. Effective measures to avoid, minimize, mitigate, and compensate for the adverse impacts will be incorporated in the Initial Environmental Examination reports and environmental management plans. ReNew will apply ADB's prohibited investment activities list, ensure that investments abide by applicable national laws and regulations, comply with ADB Safeguard Policy Statement (2009) and establish and maintain an appropriate Environmental and Social Management System (ESMS). |
| Involuntary Resettlement | Land acquisition for wind farm in India commonly includes three land types of (i) forest land under the management of central government, (ii) revenue land under the management of state government, and (iii) private land. Renew or its contractors will lease land for the first two land types. The private land is based on negotiated land acquisition. Land acquisition will be implemented under the guidance of the ESMS and the resettlement plan will prepared if the policy is triggered. |
| Indigenous Peoples | There is no Scheduled Tribes in the wind farm locations owned by Renew. The project has no impacts on Indigenous Peoples. The indigenous peoples screening will be incorporated in Renew's ESMS. |
| Stakeholder Communication, Participation, and Consultation | The consultation and participation process is carried out with relevant stakeholders, especially with local communities. The stakeholders communication, participation and consultation is handled by the development of the environmental and social management system (ESMS). |
| Timetable for assistance design, processing and implementation | |
|---|---|
| Concept Clearance | 18 Sep 2013 |
| Due Diligence | 12 Dec 2013 |
| Credit Committee Meeting | 31 Mar 2014 |
| Approval | 16 May 2014 |
| PDS Creation Date | 03 Aug 2013 |
| Last PDS Update | 24 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 Public Communications Policy (PCP) 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 |
|---|---|---|
| ReNew Power Investment Project: Project Data Sheet (हिन्दी) | Translated PDS | May 2014 |
| ReNew Power Investment Project | Reports and Recommendations of the President | Apr 2014 |
| ReNew Power Investment Project | Initial Poverty and Social Analysis | Aug 2013 |
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 |
|---|---|---|
| ReNew Power Investment Project: Social Safeguards Monitoring Report (July-December 2015) | Social Monitoring Reports | Sep 2016 |
| ReNew Power Investment Project: Subproject Vaspeth IV - Environmental Monitoring Report (April 2014-March 2015) | Environmental Monitoring Reports | Dec 2015 |
| ReNew Power Investment Project: Subproject Bhesada - Environmental Monitoring Report (April 2014-March 2015) | Environmental Monitoring Reports | Dec 2015 |
| ReNew Power Investment Project: Environment & Social Monitoring Report (April 2014-March 2015) | Environmental and Social Monitoring Reports | Sep 2015 |
| ReNew Power Investment Project: Subproject Vaspeth IV - Social Monitoring Report (October 2014-March 2015) | Social Monitoring Reports | Aug 2015 |
| ReNew Power Investment Project: Subproject Bhesada - Social Monitoring Report (October 2014-March 2015) | Social Monitoring Reports | Aug 2015 |
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Public Communications Policy (PCP) 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.