PROJECT

Projects

Summary of Investment Information

Project Number

35415

Company Name

Green Infra Corporate Solar Limited

Date SPI Disclosed

Oct 6, 2014

Country

India

Region

South Asia

Projected Board Date

Nov 10, 2014

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 8, 2024

Department

Regional Industry - INF Asia & Pac

Industry

Infrastructure

Previous Events

Approved : Dec 5, 2014
Signed : Feb 23, 2015
Invested : Apr 28, 2015

Sector

Wind Power - Renewable Energy Generation

Additional Project Attributes

Public-Private Partnerships

Project Description

The Project involves a multi-level engagement and partnership with Green Infra Limited (“GIL”, the Sponsor), an existing IFC client to develop, operate and construct renewable generation assets in India.
IFC is considering providing an overall envelope for debt funding in the amount of US$59 million, to be used over the next one year for various projects that GIL is developing. The first tranche of this financing is expected to be provided to the wholly owned subsidiary of GIL, Green Infra Corporate Solar Limited (“GICSL”, or the Company). The Company has been set up to develop five wind power plants (namely Dangri, Nipanya, Parner, Rajgarh and Rojmal) in India, with a total capacity of 242.4MW. The plants are expected to be commissioned by 31st March, 2015. The off-takers for the plants are going to be respective state distribution companies where the plants will be located.
The Company has signed the Engineering, Procurement and Construction (“EPC”) and Operations and Maintenance (O&M) agreements for Dangri, Nipanya and Rojmal plants with Inox Wind Limited, Inox Wind Infrastructure Services Limited and Inox Renewables Limited. The Company has signed EPC agreement for Parner plant with Kenersys India Private Limited and Acorn Properties Private Limited and for Rajgarh plant with Wind World India Limited and Wind World Wind Resources Development Private Limited.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation