Transvolt is a subsidiary of Elements Renewable Energy Private Limited (EREPL or the Sponsors), which is in the business of developing renewable energy and decarbonized transport solutions.                                                  

 The total IFC investment is expected to be up to US$ 20 million. 

  The projects are located across states in India.  

   According to IFC's Policy on Environment and Social Sustainability (2012), this is a Category B project. Key E&S risks and issues include i) the company's management and monitoring systems to assess and manage E&S risks and impacts from business operations (including asset acquisitions, transition management, and bus and depot operations), ii) consistent management of labor and working conditions and labor compliance  and occupational health and safety (OHS) policies and practices across the different contracts and for different types of workers (direct and third party workers) and transition management in the acquisitions where existing workforce in the acquired companies will need to be integrated, iii) monitoring and management of waste, wastewater, and hazardous materials at the depots, iv) passenger safety, especially for women and children, in buses and at the depot, including management of gender-based violence and harassment (GBVH) and child protection , v) supply chain management risk for child and forced labor and safety in the EV supply chain especially with respect to batteries, vi) infrastructure, facilities and amenities at depot in compliance with applicable laws and GIIP including climate proofing of depots, emergency preparedness, and response planning, and vii) the company’s stakeholder engagement and grievance management in respect to E&S aspects.