fbpx 50195-001: ReNew Clean Energy Project | Asian Development Bank

India: ReNew Clean Energy Project

Nonsovereign (Private) Project | 50195-001 Status: Approved

ADB will provide funding to seven SPVs established by ReNew for the purposes of developing 709 MW of solar and wind projects in the states of Andhra Pradesh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, and Telangana.

Project Details

Project Officer
Patil, Avesh Private Sector Operations Department Request for information
Country
  • India
Sector
  • Energy
 
Project Name ReNew Clean Energy Project
Project Number 50195-001
Borrower/Company Helios Infratech Pvt Ltd
Narmada Wind Energy Pvt Ltd
ReNew Mega Solar Power Pvt Ltd
ReNew Power Private Limited
ReNew Saur Shakti Pvt Ltd
ReNew Solar Energy (Jharkhand One) Pvt Ltd
ReNew Solar Energy (Jharkhand Three) Pvt Ltd
ReNew Wind Energy (Sipla) Pvt Ltd
Country India
Location Nation-wide
Type or Modality of Assistance
3488 Loan Ordinary capital resources USD 12.70 million Committed
3514 Loan Ordinary capital resources USD 0.00 Cancelled
3515 Loan Ordinary capital resources USD 0.00 Cancelled
3516 Loan Ordinary capital resources USD 29.10 million Committed
3517 Loan Ordinary capital resources USD 34.70 million Committed
3518 Loan Ordinary capital resources USD 0.00 Cancelled
3519 Loan Ordinary capital resources USD 25.00 million Committed
8314 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 12.70 million Committed
8319 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 0.00 Cancelled
8320 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 0.00 Cancelled
8321 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 29.10 million Committed
8322 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 34.70 million Committed
8323 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 0.00 Cancelled
8324 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 25.00 million Committed
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Energy / Renewable energy generation - solar - Renewable energy generation - wind

Gender Equity and Mainstreaming No gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 1
Responsible ADB Officer Patil, Avesh
Project Sponsor(s) ReNew Power Private Limited
Description ADB will provide funding to seven SPVs established by ReNew for the purposes of developing 709 MW of solar and wind projects in the states of Andhra Pradesh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, and Telangana.
Objectives and Scope The Government of India has established ambitious renewable energy targets in the country's electricity-generation mix: a national target (for renewable energy capacity) of 175 gigawatts (GW) by 2022, approximately 91% of which will come from solar and wind. The Project supports a leading private sector player (ReNew) in its contributions towards this goal. More broadly, the Project also (i) contributes to the acceleration and expansion of private sector investments in clean energy infrastructure in India; (ii) expands and diversifies ADB's non-sovereign exposure to infrastructure assets in India's less-developed states; and (iii) catalyzes significant capital from co-financiers.
Status of Development Objectives

The Projects have started contributing to their development objectives.

1- ReNew Mega Solar Power Pvt Ltd (RMSPL) - 48 MW solar power generation plant at Mandamarri in Telangana, Andhra Pradesh got commissioned in March 2017.

2- ReNew Wind Energy (Sipla) Pvt Ltd (RWESPL) - 110 MW wind power generation plant at Batkurki (60 MW) and Bableshwar (50 MW) in Karnataka got commissioned in March 2017.

3. Helios Infratech Private Limited (HIPL) - 101 MW wind project in the state of Andhra Pradesh got commissioned on 31 March 2017.

4. Renew Saur Shakti Pvt Ltd - 95 MW solar project in the state of Telangana got commissioned in June/July 2017.

Status of Operation/Construction In December 2016, ADB approved $195 million loan facility (plus $195 million of Leading Asia's Private Sector Infrastructure Fund) for IND: ReNew Clean Energy Project which entailed providing project finance debt to seven special purpose vehicles (SPVs) of RPPL. ADB has committed $101.5 million in four subprojects/SPVs (i.e., ReNew Wind Energy (Sipla), Helios Infratech Private Limited (HIPL), ReNew Mega Solar and Renew Saur Shakti Pvt Ltd) which are fully operational. The remaining $93.5 million has been cancelled.
Linkage to Country/Regional Strategy The Project supports infrastructure and environment, two of the five core operational areas of ADB, as reaffirmed by the Midterm Review of Strategy 2020. Moreover, the Project supports three of the five key thrusts of the Country Partnership Strategy of India (2013-2017): (i) infrastructure development, (ii) job creation and access to jobs, and (iii) environmental sustainability.
Safeguard Categories
Environment B
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects The project is categorized as B on environment since potential environmental impacts of solar and wind power projects are generally site-specific, reversible, and mostly associated with construction activities. These impacts typically include land and vegetation clearing for site preparation and construction of access and internal roads within the solar and wind farms, transportation and delivery of equipment and materials, excavation and laying of foundations, and installation of wind turbines and solar panels. ReNew has developed an environmental and social management system (ESMS) to manage and mitigate E&S impacts during the life of its subprojects. During operation of wind power project, bird and/or bat monitoring is carried out by third party consultant. Shadow flicker impact on sensitive receptors is also monitored to check if there are complaints from local residents near the wind turbine. The E&S performance of different subprojects, as well as the institutional capacity to manage E&S issues, are being monitored on ongoing basis.
Involuntary Resettlement The project is categorized as C on involuntary resettlement (IR). The existing loan funded 7 wind and solar subprojects and the development of these subprojects including project-related facilities did not lead to any involuntary resettlement impact.
Indigenous Peoples The project is categorized as C on Indigenous Peoples. To date, subprojects have no impacts to distinct and vulnerable ethnic groups.
Stakeholder Communication, Participation, and Consultation ReNew's environmental and social management system (ESMS) includes provisions and procedures for stakeholder engagement, community consultation and grievance resolution on its subprojects.
Timetable for assistance design, processing and implementation
Concept Clearance 07 Jun 2016
Credit Committee Meeting 19 Oct 2016
Approval 02 Dec 2016
Last PDS Update 13 Aug 2020

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.

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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.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

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