Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • India
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Investment Bank (EIB)
Status: Under appraisal
Bank Risk Rating: U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 31.82 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported 27
Converted using 2017-08-07 exchange rate.
Project Cost (USD): $ 129.66 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported 110.
Converted using 2017-08-07 exchange rate.

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Primary Source

Original disclosure @ EIB website
Updated in EWS: 2017-08-07
Disclosure Date: 2016-04-22
IREDA-RE & EE FL Mytrah Vayu Godavari
EIB-20160056

Project Description
LOCATION India DESCRIPTION The project is an allocation under the IREDA RENEWABLE ENERGY AND ENERGY EFFICIENCY FL. The loan will contribute to the financing of a 99 MW wind farm in Telangana state. OBJECTIVES The project will contribute to the development of renewable energy projects undertaken by private sector enterprises in India, reducing gas pollution and greenhouse gas emissions. ENVIRONMENTAL ASPECTS The project, if located in the EU, would fall under Annex II of the Environmental Impact Assessment (EIA) Directive leaving to the competent authority the decision as to whether an EIA is required or not. According to the applicable Indian law, wind power projects do not require an EIA. Under the conditions of the related framework loan, the promoter is required to carry out an environmental and social impact assessment (ESIA) study for the project. The Bank will review ESIA documentation during appraisal and ensure adherence to its environmental and social standards. PROCUREMENT The implementation of the project will be done in compliance with the Bank's Guide to Procurement. The Bank will monitor the procurement process to ensure compliance with the guidelines.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF EIB The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces
Bank Documents