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

India: ReNew Clean Energy Project

Nonsovereign (Private) Project | 50195-001 Status: Approved
 
Project Name ReNew Clean Energy Project
Project Number 50195-001
Borrower/Company Helios Infratech Pvt Ltd
Narmada Wind Energy Pvt Ltd
RENEW POWER VENTURES PRIVATE LIMITED
ReNew Mega Solar Power Pvt Ltd
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 Approved
3514 Loan Ordinary capital resources USD 33.00 million Approved
3515 Loan Ordinary capital resources USD 31.40 million Approved
3516 Loan Ordinary capital resources USD 29.10 million Approved
3517 Loan Ordinary capital resources USD 34.70 million Approved
3518 Loan Ordinary capital resources USD 28.50 million Approved
3519 Loan Ordinary capital resources USD 25.60 million Approved
8314 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 12.70 million Approved
8319 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 33.00 million Approved
8320 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 31.40 million Approved
8321 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 29.10 million Approved
8322 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 34.70 million Approved
8323 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 28.50 million Approved
8324 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 25.60 million Approved
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 VENTURES PRIVATE LIMITED
Description
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.

Status of Operation/Construction ADB has so far provided financing for three subprojects/SPVs (i.e., ReNew Wind Energy (Sipla), Helios Infratech Private Limited (HIPL) and ReNew Mega Solar) which are fully operational. Company is in process of financing Renew Saur Shakti Pvt Ltd (RSSPL).
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
Involuntary Resettlement
Indigenous Peoples
Summary of Environmental and Social Aspects
Environmental Aspects The 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.
Involuntary Resettlement ReNew has no recourse to government expropriation for its land needs. Involuntary physical displacement is therefore not possible and all permanent land acquisition is by voluntary sale on a willing-seller willing-buyer basis. ReNew engaged a third party to audit project related land procurement documentation to ensure that negotiation and settlement processes comply with national law and are in line with requirements for negotiated land acquisition laid down in safeguard requirements for involuntary resettlement.
Indigenous Peoples The Project does not impact Indigenous Peoples and has been categorized as _C_.
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 12 Jun 2019

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

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Related Publications

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