fbpx 54241-001: Azure Power COVID-19 Liquidity Support Project | Asian Development Bank

India: Azure Power COVID-19 Liquidity Support Project

Nonsovereign (Private) Project | 54241-001 Status: Approved

Financing provided to Azure Power India Private Limited (APIPL) will be used as liquidity support for APIPL to mitigate the impact of COVID-19 on the economic activity in India.

Project Details

Project Officer
Kaur, Japnit Private Sector Operations Department Request for information
Country
  • India
Sector
  • Energy
 
Project Name Azure Power COVID-19 Liquidity Support Project
Project Number 54241-001
Borrower/Company AZURE POWER INDIA PRIVATE LIMITED
Country India
Location Andhra Pradesh, Bihar, Chhattisgarh, Delhi, Gujarat, Karnataka, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh
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

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 1
Responsible ADB Officer Kaur, Japnit
Project Sponsor(s) Azure Power Global Limited
Description Financing provided to Azure Power India Private Limited (APIPL) will be used as liquidity support for APIPL to mitigate the impact of COVID-19 on the economic activity in India.
Objectives and Scope The financing would be used to meet any short-term cash flow requirement at APIPL or any of its subsidiaries.
Linkage to Country/Regional Strategy The project, through its support for sustaining renewable energy operations, is consistent with ADB's Strategy 2030: (i) operational priority 2: accelerating progress in gender equality; and (ii) operational priority 3: tackling climate change, building disaster resilience, and reinforcing environmental sustainability. The project is aligned with ADB's country partnership strategy for India, 2018-2022, which calls for higher efficiency and carbon mitigation through power generation from renewable sources.
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects The transaction is classified as category C for environment. ADB funds will not be used to finance construction, or any project development activities. APIPL has a social, health, environment and safety (SHES) management system compliant with IFC standards. APIPL incorporates the SHES terms and conditions into the engineering, procurement, and construction contracts signed by it. APIPL has an established SHES department with suitably trained staff responsible for the overall management and monitoring of the social and environmental aspects of APIPL's operations. The environmental and social measures and the institutional capacity and commitment of APIPL to manage the project's environmental and social impacts are deemed adequate.
Involuntary Resettlement The project is classified as category C for involuntary resettlement. There are no expected IR impacts as the proposed financing will not be used to finance any construction or project development activities that will result in physical or economic displacement.
Indigenous Peoples The project is classified as category C for Indigenous Peoples. ADB funds will not finance any construction or project development activities that will have impacts to vulnerable socio-cultural groups or scheduled tribes identified as indigenous peoples per ADB SPS 2009
Stakeholder Communication, Participation, and Consultation APIPL regularly engages with nongovernment and civil society organizations through its stakeholder engagement plan and corporate social responsibility programs.
Timetable for assistance design, processing and implementation
Concept Clearance 10 Aug 2020
Credit Committee Meeting 15 Sep 2020
Approval 20 Oct 2020
Last PDS Update 27 Nov 2020

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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