India : Capacity Building of the Indian Renewable Energy Development Agency

Sovereign Project | 48222-001

ADB and the Government of India are working together to promote renewable energy. The Capacity Building of the Indian Renewable Energy Development Agency technical assistance program is helping this key government office gain expertise in planning and implementing renewable energy projects financed by the Asian Development Bank. This is allowing the funding and expertise to have a greater impact.

Project Details

  • Project Officer
    Bhatt, Jigar Arvindbhai
    South Asia Department
    Request for information
  • Country/Economy
    India
  • Modality
  • Sector
    • Finance
Project Name Capacity Building of the Indian Renewable Energy Development Agency
Project Number 48222-001
Country / Economy India
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8937-IND: Capacity Building of the Indian Renewable Energy Development Agency
Asian Clean Energy Fund under the Clean Energy Financing Partnership Facility US$ 750,000.00
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Sector / Subsector

Finance / Finance sector development
Gender Some gender elements
Description ADB and the Government of India are working together to promote renewable energy. The Capacity Building of the Indian Renewable Energy Development Agency technical assistance program is helping this key government office gain expertise in planning and implementing renewable energy projects financed by the Asian Development Bank. This is allowing the funding and expertise to have a greater impact.
Project Rationale and Linkage to Country/Regional Strategy A major challenge to enabling significant renewable energy deployment in India is the lack of long-term debt financing. The Indian Renewable Energy Development Agency (IREDA) is the government-owned financial institution tasked with helping to address this issue by financing and otherwise promoting renewable energy development in the country. The agency has strong technical capacity. It is proficient in sourcing, developing, evaluating, and administering renewable energy subprojects. It obtains about half of its funding from international development organizations, including the Asian Development Bank.
Impact Increased IREDA investment in clean and renewable energy projects (Energy Policy, 2009)
Project Outcome
Description of Outcome IREDA has increased capacity to absorb ADB funds.
Progress Toward Outcome IREDA's capacity to absorb ADB funds has improved, reflected by the timely disbursement and liquidation of funds. Tranche 1 of US$200 million has been fully disbursed and financially closed on 25 September 2018, 7 months before the original loan closing date of 30 April 2019.
Implementation Progress
Description of Project Outputs

Improved project administration

Improved operation and management

Improved safeguard compliance
Status of Implementation Progress (Outputs, Activities, and Issues) Expert support of 12 consultants have been provided to IREDA for strengthening their operations, management, project administration and safeguard compliance: (i) Strategy Consultant; (ii) Financial Management consultant; (iii) Environment Safeguard consultant; (iv) Human Resource consultant; (v) Social Safeguard consultant; (vi) Project Management consultant; (vii) Project Administration consultant; (viii) Securitization Consultant; (ix) Alternate Investment Fund consultant; (x) Legal Consultant; (xi) Tax consultant; and (xii) Project Completion Report consultant.
Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design ADB has consulted with the Government of India and IREDA on the provision of this TA. The TA is fully aligned with all existing development partners' assistances to IREDA.
During Project Implementation Extensive due diligence and consultation have been conducted.
Business Opportunities
Consulting Services ADB will engage the consultants in accordance with ADB's Guidelines on the Use of Consultants (2013, as amended from time to time).
Procurement Procurement of equipment is generally not envisaged but, if required, will follow ADB's Procurement Guidelines (2015, as amended from time to time). IREDA will also follow the specific Clean Energy Financing Partnership Facility implementation guidelines.
Responsible ADB Officer Bhatt, Jigar Arvindbhai
Responsible ADB Department South Asia Department
Responsible ADB Division India Resident Mission
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 28 Nov 2014
Fact Finding 07 Jan 2015 to 09 Jan 2015
MRM -
Approval 06 Aug 2015
Last Review Mission -
Last PDS Update 20 Mar 2020

TA 8937-IND

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
06 Aug 2015 11 Jul 2016 11 Jul 2016 31 Dec 2019 30 Nov 2020 18 Dec 2020
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
0.00 750,000.00 0.00 250,000.00 0.00 0.00 1,000,000.00 17 Jun 2022 622,919.41

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.

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

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.

Tenders

Tender Title Type Status Posting Date Deadline
Securitization Consultant Individual - Consulting Closed
Alternate Investment Fund Consultant Individual - Consulting Closed
Project Completion Report Consultant Individual - Consulting Closed
Tax Consultant Individual - Consulting Closed
Legal Consultant Individual - Consulting Closed
Project Management Consultant Individual - Consulting Closed
Human Resource Specialist Individual - Consulting Closed
Financial Management Consultant Individual - Consulting Closed

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.