fbpx 53037-001: AC Energy Green Bond Project | Asian Development Bank

Regional: AC Energy Green Bond Project

Nonsovereign (Private) Project | 53037-001 Status: Approved

Project Details

Project Officer
Ahmed, Salman Private Sector Operations Department Request for information
  • Regional
  • Energy
Project Name AC Energy Green Bond Project
Project Number 53037-001
Borrower/Company AC Energy Finance International Limited
AC Energy, Inc.
Country Regional
Viet Nam
Location Indonesia - Nation-wide; Philippines - Nation-wide; Viet Nam - Nation-wide
Type or Modality of Assistance
3771 Loan Ordinary capital resources USD 20.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Regional integration
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Energy / Renewable energy generation - solar

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Ahmed, Salman
Project Sponsor(s)
Objectives and Scope
Linkage to Country/Regional Strategy The Project is consistent with ADB's Strategy 2030, which has a target of 75% of ADB operations to support climate change mitigation and adaptation by 2030. The project is consistent with ADB's Energy Policy, which supports wider access to energy through investments in energy efficiency and renewable energy projects. The project will contribute to ADB's target of $6 billion in annual financing for climate mitigation and adaptation by 2020 and catalyze further private sector resources in the clean energy segment.
Safeguard Categories
Involuntary Resettlement
Indigenous Peoples
Summary of Environmental and Social Aspects
Environmental Aspects The project is classified as category B for environment. It is processed as a general corporate finance transaction following ADB SPS Safeguards Requirement 4. No specific subprojects have been identified for ADB financing at this stage. A corporate audit of the company's current environmental and social policies and procedures included an assessment of the company's past and current performance against the objectives, principles, and requirements of SPS and a review of the extent it meets the requirements of the Social Protection Strategy (2001) and the Gender and Development Policy (1998) was conducted by a qualified and experienced external expert. The audit included assessment of the existing solar and wind subprojects of ACE in the Philippines and implementation of environmental and social corporate level policies at the subproject level.
Involuntary Resettlement The project is classified as category B for involuntary resettlement. The ESMS will include the preparation of resettlement plans.
Indigenous Peoples The project is classified as category B for indigenous peoples. The ESMS will also include (i) guidance and requirements to improve the social impact assessment process to confirm impacts of projects on Indigenous Peoples or ethnic groups as defined in the SPS and include a gender analysis; (ii) a framework for negotiated settlement verified by an independent third party and preparation of a land acquisition plan (LAP) that will elaborate on the different modes of acquisition and identify actions required to comply with SPS; (iii) the preparation of resettlement plans or Indigenous Peoples' plans; and (iv) where parcels of land have been purchased or acquired in the past, a requirement for an audit by an independent third party.
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 22 Jan 2019
Credit Committee Meeting 25 Jan 2019
Approval 30 Jan 2019
Last PDS Update 12 Feb 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.

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.

Title Document Type Document Date
AC Energy Green Bond Project: FAST Report Faster Approach to Small Nonsovereign Transactions Feb 2019
AC Energy Green Bond Project: Initial Poverty and Social Analysis Initial Poverty and Social Analysis Jan 2019

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
AC Energy Green Bond Project: Environmental and Social Monitoring Report (2019) Environmental and Social Monitoring Reports May 2020

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.