AZURE POWER INDIA PRIVATE LIMITED
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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
FMO’s client is Azure Power India Private Limited (“AZI”), a company incorporated in India. AZI is a leading developer, constructor and operator of utility scale ground-based and rooftop solar projects in India. Currently, AZI’s solar portfolio totals 1.07GW and its goal is to grow to 5GW by the end of 2020.
What is our funding objective?
FMO subscribes to a Non-Convertible Debenture issued by AZI. The objective of FMO’s financing is to fund the development and construction by AZI of new solar projects in India. This will help alleviate India’s dependence on fossil fuels and to support India’s goal of reaching 100 GW of installed solar capacity by the end 2022.
Why do we fund this investment?
FMO funds this project as it provides an additional source of clean, renewable energy to India. India currently has a demand for electricity that exceeds its reliable generation capacity, resulting in frequent power outages. Furthermore, much of India’s current power is supplied by (imported) coal. By funding AZI FMO contributes to increasing India’s power supply, reducing blackouts and replacing fossil fuel generation with low cost, renewable solar energy.
- Region
- Asia
- Country
- India
- Sector
- Energy
- Publication date
- 4/25/2017
- Effective date
- 9/26/2017
- End date
- 6/1/2022
- Total FMO financing
- INR 1900.00 MLN
- Funding
- FMO NV
-
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+