The project sponsors are Wabag and KWMPL. Wabag is a technology focused company providing solutions in the water and wastewater treatment space, including Engineering Procurement & Construction and Operations & Maintenance services, across India, South East Asia, Middle East, Africa, Europe and Latin America. It caters to the municipal as well as industrial clients, has executed over 6000 projects globally to date. KWMPL is a portfolio company of the Green Growth Equity Fund. GGEF is a green energy focused fund which shall invest in scalable operating companies and platforms across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chains in India. The anchor investors of GGEF are National Investment and Infrastructure Fund, India’s first infrastructure specific investment fund set up by Government of India, and Foreign, Commonwealth and Development Office, Government of UK. GGEF is managed by its investment manager, EverSource Capital Private Limited Capital, a joint venture between Everstone Capital, a private equity firm with business in South East Asia, and Lightsource BP, a solar energy company in Europe.  

 The project cost is estimated at INR4,176 million (equivalent to US$56.8 million). The proposed investment includes subscription of Non-Convertible Debentures of up to INR1,047 million (equivalent to US$14.2 million) and a mobilization of loan up to INR712 million (equivalent to US$9.7 million) to GSPPL. 

 The Project will be located in KMDA area, in West Bengal, India.

  No governance risks to expected development impacts are noted                                                   

This is a Category A project as the potentially significant adverse environmental and social (E&S) risks and impacts related to the project are diverse and include: (a) legacy contamination at one of the project sites with potential for health and safety risks for workers and neighboring community; (b) health and safety risk exposure of neighboring communities due to storage and handling of hazardous gases at the project sites during operation; (c) loss of employment of about 125 workers engaged by KMDA through third party agencies; and (d) potential loss of livelihood of about 45 fishermen households and 18 workers engaged in the fishing activity in Bally WSP.