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 Name||Azure Power COVID-19 Liquidity Support Project|
|Borrower/Company||AZURE POWER INDIA PRIVATE LIMITED
|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.|
|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|
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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|Title||Document Type||Document Date|
|Azure Power COVID-19 Liquidity Support Project: Report and Recommendation of the President||Reports and Recommendations of the President||Sep 2020|
|COVID-19 Liquidity Support Project: Initial Poverty and Social Analysis||Initial Poverty and Social Analysis||Aug 2020|
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.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
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