Inabensa Bharat Private Limited (Inabensa Bharat) is a 100% owned subsidiary of Abengoa S.A. (the Sponsor), a Spanish infrastructure conglomerate operating since 1941, and one of the top global players focusing on technology and engineering solutions for sustainable development. The group has 5 core businesses: Solar, Bio-energy, Environmental, IT and Engineering & Construction

The total project cost is estimated at 1,002 million Indian Rupee (approximately US$20 million). The proposed IFC investment is an A loan of up to US$14 million from IFC’s own account.

14.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	14.0
Equity

* These investment figures are indicative

The site is 165 Kms from the city of Gandhinagar and 45 Kms from the Vadodara Rail station and 30 Kms from Godhra rail junction.

Inabensa Bharat''s operations will support the construction of solar energy plants globally by providing a necessary component in the form of the solar panel structure, thereby encouraging the use of clean energy and reducing CO2 emissions through the implementation of clean energy plants. In addition, Inabensa Bharat will support improvements in the infrastructure supply chain through the increased manufacture and sale of transmission towers across Asia, the Middle East and Sub-Saharan Africa to meet growing demand. As a result of increased focus on transmission capability in India, energy access is expected to improve. Finally, the project will support job creation in India, both during the expansion and operation of the facility, a key objective for the Indian government.

IFC will support Inabensa Bharat through the provision of long term finance to support development of a greenfield manufacturing plant in India and the acquisition of technology and equipment to improve its delivery of components along the renewable energy and infrastructure supply chains in India and other countries in Asia, Africa and the Middle East. This expansion will enable Inabensa Bharat to establish a stronger presence in India, allowing it to bid for and win turnkey projects in India with companies such as Power Grid. The India plant will also be able to supply solar steel structures to Abengoa''s solar projects globally. IFC will provide technical support to Inabensa Baharat to ensure compliance with IFC''s Environmental & Social Performance Standards. IFC''s support of a subsidiary of Abengoa SA, a leading global player in the area of sustainable energy, will reinforce IFC''s long term strategic partnership with Abengoa SA, supporting the group''s growth plans in emerging markets both in the manufacturing space as well as the downstream implementation of clean energy. While Abengoa is a large group with good banking relationships, Abengoa is relatively highly leveraged and growing in areas IFC would like to encourage and support. As such, the Group will continue to require long-term funding sources in Emerging Markets, providing an opportunity for further collaboration between IFC and Abengoa in the future.

The Company’s environmental and social performance is in material compliance with the regulatory requirements of India. The environmental, health and safety (EHS) impacts of current and future operations within the proposed Project are limited and can be mitigated and, hence, this Project is a Category B project according to IFC’s Environmental and Social Review Procedure.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.