India: ReNew Clean Energy Project
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.
Private Sector Operations Department
Request for information
2 December 2016
|Project Name||ReNew Clean Energy Project|
|Borrower/Company||Helios Infratech Pvt Ltd
ReNew Mega Solar Power Pvt Ltd
ReNew Power Private Limited
ReNew Saur Shakti Pvt Ltd
ReNew Wind Energy (Sipla) Pvt Ltd
|Type or Modality of Assistance||
|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.|
|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. No subproject is located in IP land or Scheduled Tribe area.|
|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||06 Aug 2021|
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.
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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 Clean Energy Project: Initial Poverty and Social Analysis||Initial Poverty and Social Analysis||Dec 2016|
|ReNew Clean Energy Project: Project Data Sheet (हिन्दी)||Translated PDS||Oct 2016|
|ReNew Clean Energy Project: Report and Recommendation of the President||Reports and Recommendations of the President||Nov 2016|
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.
None currently available.
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ADB Boosts Support for Clean Energy with $390 Million Renewables Financing in IndiaADB approved a $390 million financing package for ReNew Power to develop renewable energy projects in India as part of its efforts to scale up private sector-led infrastructure development in Asia and support clean energy.