FP081
Line of Credit for Solar rooftop segment for commercial, industrial and residential housing sectors
Line of Credit for Solar rooftop segment for commercial, industrial and residential housing sectors
Enabling access to long-term, affordable finance for solar rooftop installation projects in commercial, industrial and residential housing sectors in India, including vulnerable communities.
India is the world's fourth largest carbon emitter, responsible for 6 per cent of global greenhouse gas emissions. In its Nationally Determined Contribution (NDC), the Government of India has stated its ambition to achieve 40 percent cumulative electric power capacity from non-fossil fuel-based energy resources by 2030 - with a target of 40 GW of rooftop solar power by 2022.
The programme will enable access to long-term and affordable financing for the construction of 250 MW of rooftop solar capacity in India and thereby reduce emissions by 5.2 million tonnes of CO2 equivalent over 20 years. This pioneering private sector-driven initiative will unlock private sector investment in the rooftop solar market and pave the way toward a sustainable bankable model in India and beyond.
The project has an estimated lifespan of 20 years.
Project timeline
Pipeline
30 Nov 2017 - 92 days
Funding proposal received
30 Nov 2017
Cleared by iTAP
26 Jan 2018
Approved
01 Mar 2018 - 385 days
Approved by GCF Board
01 Mar 2018
Legal opinion on AE's Internal Approval
19 Jun 2018
FAA executed
07 Dec 2018
Under implementation
20 Mar 2019 - 2,087 days so far
FAA effective
20 Mar 2019
Disbursement - USD 50,000,000
22 Mar 2019
Disbursement - USD 10,000,000
21 Feb 2023
Disbursement - USD 25,000,000
23 Aug 2023
To be completed
20 Mar 2024 - -258 days to go
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing85% disbursed
| Instrument | Amount |
|---|---|
| Loan | USD 100,000,000 |
| Total GCF Financing |
|---|
| USD 100,000,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Loan | USD 100,000,000 |
| Co-Financing | Equity | USD 50,000,000 |
| Total Co-Financing |
|---|
| USD 150,000,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
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GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
National Bank for Agriculture and Rural Development (India)
Chief General Manager
Plot C-24, G Block, Bandra-Kurla Complex, PB No.8121, Bandra (East), Mumbai, India
Phone +91 022-68120077
Phone +91 022-26539861
dcas@nabard.org
sd.rohilla@nabard.org
More contacts
National Designated Authority
Ministry of Environment, Forests and Climate Change
Economic Advisor
Indira Paryavaran Bhavan, Jor Bagh Road, New Delhi-110003, New Delhi, India