The Sponsor of the project is Moser Baer India Limited (MBIL), an existing IFC client and the third largest manufacturer of recordable optical storage media products (e.g. compact discs, DVDs) in the world. MBPV is a 100% subsidiary of MBIL.

The total project cost is estimated at $92 million including an initial outlay of $58 million. IFC is considering an investment of $22.5 million A loan to support the project.

22.50 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	22.50
Equity

* These investment figures are indicative

The project site is located in a special economic zone, adjacent to MBIL’s existing plant in the rapidly expanding New Okhla Industrial Development Area (NOIDA) industrial estate in the state of Uttar Pradesh (UP), some 27km from Delhi.

The project will create about 600 additional jobs, a majority of which require technical skills. Other development impacts include:

- promoting electrification in off-grid applications; and
- facilitating reduction of emission of greenhouse gases (GHG).

In Moser Baer’s target markets, renewable generating capacity of 80 MW (the generating capacity of one year’s output from the project) will avoid GHG emissions in the order of 65,000 tons of carbon dioxide per annum.

IFC’s willingness to provide long term financing to MBPV at its current nascent stage will support its financial risk profile in the market. Further, the financial sustainability of the project and the proposed IFC investment will also have a strong catalytic effect for financing of projects in the PV electricity sector in India and possibly in other emerging markets.

This is a Category B project according to IFC’s Procedure for Environmental and Social Review Procedure because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The following potential environment, health and safety and social aspect of the project were analyzed:

- corporate environmental, social, and health and safety management systems;
- national and local government permitting requirements;
- labor and working conditions including occupational health and safety in construction and operation;
- site location and acquisition; source of power and energy, including fuel storage if applicable;
- air emissions during construction and operation;
- ambient air quality and noise impacts on nearby receptors during construction and operation;
- source and volumes of water consumed including efforts to minimize water use;
- recycling and treatment of process effluent and domestic waste water;
- hazardous materials management;
- minimization, recycling and disposal of solid and hazardous wastes;
- fire and life safety and emergency response; community engagement, health, safety and security;
- corporate social responsibility efforts, including HIV/AIDS awareness.

Full details of IFC’s environmental and social assessment may be found in the Environmental and Social Review Summary (ESRS) for the project.