India : Azure Power COVID-19 Liquidity Support Project

Nonsovereign Project | 54241-001

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
  • Approval Date
    20 October 2020
  • Country/Economy
    India
  • Sector
    • Energy
Project Name
Azure Power COVID-19 Liquidity Support Project
Project Number
54241-001
Borrower / Company
  • AZURE POWER INDIA PRIVATE LIMITED
Country / Economy
  • 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
Some gender elements
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.

Contact

Responsible ADB Officer
Kaur, Japnit
Responsible ADB Division
Infrastructure Finance Division 1
Responsible ADB Department
Private Sector Operations Department

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.

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
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.


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.