RENEW WIND ENERGY (DEVGARH) PRIVATE
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
ReNew Wind Energy (Devgarh) Private Limited (RWEDPL) a project company established with the purpose of developing, constructing and operating a 49.5MW wind power plant situated in Sangli District of Maharashtra, India. The project shareholder is ReNew Power Ventures Private Limited, an India-based wind developer, which is held in majority by GS Wyvern Holdings Limited, an investment arm of the Goldman Sachs Group.
What is our funding objective?
FMO's financing will fund part of the costs entailed by the construction of the wind power plant. The project is jointly funded by Rabobank.
Why do we fund this investment?
The project's development impact includes generation of much needed energy from a domestic and renewable source. This will provide for (i) diversification of the fuel mix (India's generation mix is dominated by thermal power), (ii) energy security (India is facing significant power shortages), and (iii) avoiding greenhouse gas emissions. Strong (regulatory) support from the Government of India is in place for the development of renewable energy.
- Region
- Asia
- Country
- India
- Sector
- Energy
- Effective date
- 9/30/2013
- End date
- 6/20/2019
- Total FMO financing
- USD 24.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B