| Project Detail |
The proceeds of the ADB financing will be utilized to partially fund the construction and operation of 400 MW AC (500 MW DC) solar-photovoltaic power project located at Ultra Mega Renewable Energy Power Park in Gujarat, India. The Project is part of the total 800 MW AC capacity awarded to SAEL Industries within the same solar park.
Project Name SAEL Gujarat Solar Power Project
Project Number 57191-001
Borrower / Company SAEL Industries Limited
SAEL Solar P4 Private Limited
Country / Economy India
Location Gujarat
The project is aligned with the governments target of reaching at least 500 gigawatts of non-fossil energy capacity, meeting 50% of Indias energy requirements from renewable energy, and reducing the carbon emissions intensity of the economy by 45% by 2030.
Linkage to Country/Regional Strategy The project is consistent with the following operational priorities (OPs) of Strategy 2030: (i) addressing remaining poverty and reducing inequalities (OP 1); (ii) accelerating progress in gender equality (OP 2); and (iii) tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability (OP 3). It will contribute to ADBs ambition to provide cumulative climate finance of $100 billion during 20192030, since the loan will contribute to ADBs support for climate mitigation financing. By promoting stable power supply and increasing the proportion of renewable energy, the project is aligned with pillar 1 (accelerate structural transformation and job creation) and pillar 2 (promote climate-resilient green growth by promoting stable power supply and increasing the proportion of renewable energy generation) of ADBs country partnership strategy for India, 20232027. The project is also fully aligned with ADBs Energy Policy, which prioritizes support for renewable energy development. |
