Deal #9545

Land area

Intended size

647.5 ha

Size under contract (leased or purchased area)

[2020, current] 601.77 ha

Size in operation (production)

[2023-08-01, current] 418 ha

Comment on land area

According to ADB's Annual Environmental & Social Monitoring Report (2020-2021), the total required land for the project is 1600 acres and have acquired 92%, 1487 acres as of the report. They also noted that none of the acquired area has been agricultural land Size in operation is based on the RS polygon files

Intention of investment

[2019, current] Solar park (708.2 ha)

Comment on intention of investment

Solar PV Plant 350 MW

Carbon offset project

Yes

Comment on carbon offset project

According to website, there is a 3.637 MMT CO2 Mitigation due to the project

Nature of the deal

Outright purchase, Lease

Comment on nature of the deal

The land in use is either leased or bought amongst the affected landowners

Negotiation status

[2019-02, current] Concluded (Contract signed)

Comment on negotiation status

In February 2019, the Board of Directors of the Asian Development Bank (ADB) approved an equity investment of $25 million from ordinary capital resources (OCR) and equity investment of $25 million from the Leading Asia’s Private Infrastructure (LEAP) Fund administered by ADB in to Avaada Energy Private Limited (AEPL).

Implementation status

[2020] Startup phase (no production)
[2022-03, current] In operation (production)

Comment on implementation status

as of 2020 ADB EIA report, the project is under construction Commissioning date was March 2023, confirmed also via RS analysis