Submission by Ayana Renewable Power Pvt. Ltd, World Trade Centre, Rajaji Nagar, Bengaluru, India.

1.              Our Submission Outline: Role of Ayana a renewable energy platform established by BII in 2017 in mitigating climate change risk and development impact aligned with SDG.

2.              Ayana Renewable Power Pvt. Ltd. (Ayana) headquartered at World trade Centre, Rajaji Nagar, Bengaluru, India was set up by BII, erstwhile CDC Group in the month of March 2017 with ambition to establish significant MW of Renewable energy (utility) projects across India with focus on mitigating climate change risk and development Impact. This is in accordance with objective of ensuring a just transition to low carbon power generation by creating additional job opportunities for local populations.

Established in 1948 BII erstwhile CDC is the UK’s Development finance Institution, been at the forefront of supporting companies that help developing and emerging countries grow for the last 70 years. From 4th April 2022, CDC is known as British International Investment (BII). Objective of Investment in Ayana was to invest in category A & B states of India which requires investment for development with focus on mitigating climate change risk and positive development impact aligned with SDG. 

Ayana committed 100% of its initial capital committed (US$ 100 Mn) by BII into B Category state, Andhra Pradesh for development of grid connected utility scale Solar power plant. Ayana with aid from DFID Government of UK and BII established its first pilot Skill development centre for local communities enabling them with skill to find job in solar sector, 50% of target youth were women. With Learning from pilot skill development project Ayana has established Skill development centres in other part of India where it operates it solar farm.

https://www.ayanapower.com/

 

3.              Investments: -For growth of the organization focused on mitigating climate change risk and development impact aligned with SDG; partnership with likeminded investors was initiated and in March 2019 Eversource Capital and NIIF joined Ayana’s journey. Within 5 Years, capital commitment for Ayana has increased from US$100 Mn to US$721 Mn.

4.              Ayana’s growth: - In 2019 Ayana attracted likeminded investors as Everstone and NIIF with its business approach and vision of conducting business with focus on mitigating climate change risk and development Impact. As on Jan 2023 Ayana has 1290 MW of Solar Energy (Utility) capacity under operation in State of Andhra Pradesh, Rajasthan, Karnataka and Tamilnadu in India. Ayana is constructing its 300 MW wind farm in Gadag district, Karnataka India. Ayana entered in JV with IRCON a Government of India Undertaking to develop 500 MW solar plant in Pavagadha Karnataka India. The power will be sold to Indian Railways supporting it in achieving its net zero target. Ayana has a strong pipeline of 1600 MW, combining all as on Jan 2023 Ayana is 3.69 GW Renewable energy Platform.

5.              ESG in business model: - Ayana is not only focused on mitigating climate change risk by generation of renewable energy (Solar and Wind power) resulting in offset of GHG emission but is also focused on Governance and positive development impact i.e., improving livelihood of community around its project by creating additional Green job opportunities and better environmental management.

 

6.              Environment management: - India as a country to promote renewable energy and rapid increase in capacity has provided exemption to the sector from law related to obtaining environmental clearance and consent from pollution control board, however each project of Ayana undergoes environmental and social screening by conducting ESIA (Environmental and social impact assessment) in compliance with BII and IFC (World bank group) guidelines. Company has integrated environmental and social governance (ESG) in its business model and a business decision making factor along with financial and technical aspects. Project location of Ayana is selected considering environmental aspects and none of Ayana’s assets are in eco sensitive zone. All of Ayana’s Projects are categorized as Category “B” in terms of ESG risk in compliance with IFC performance Standards with additional effort to bring down risk level as low as reasonably possible with implementation of Environmental, Social, Health and Safety management plan. Ayana is ISO 9001/ ISO 14001/ ISO 45001 Certified organization.

7.              GHG Off set Mitigating Climate Change Risk: - With its Operational asset Ayana as of Dec 2022 has contributed to offsetting 3.80 Million tons of Carbon which could have been generated by a thermal power plant.

8.              Gender Balance & Equal opportunity: - Ayana is focused on Gender balance and equality. Ayan has adopted a policy on Gender Balance and equal opportunity. Ayana has employee from across demography and has 20% women employees. Ayana through its skill development projects has upskilled women from rural part of the country demonstrating its approach towards women empowerment within and outside business.

9.              Direct and Indirect Job, Enabler during COVID-19: - Ayana constructed 550 MW solar power plant during COVID when country was under COVID restriction. The 550 MW (250 Ananthapuram and 300 MW Bikaner) provided direct and indirect Job opportunities to countrymen at time when several manufacturing facilities were impacted with lockdown.

Ayana on an average employed ~850 workmen directly every day in its project under operation and under construction. Indirect Job creation in its supply chain though not accounted for but has significant positive impact on Job creation.

10.              Supporting community during COVID-19: - Ayana commissioned a skill development project under its community development program where it trained 184 youth from local area of its 300 MW solar project in Bikaner Rajasthan. The training was over skill set for solar sector in compliance with Green Job Sector Council Government of India curriculum, basic IT skill, Personality development (helping candidate to appear in Interviews), Health and Safety were additional subjects. The training was provided free of cost to the youth. The intervention helped 155 trained youth secure jobs in the solar sector.

Ayana also supported the local community with an ambulance during COVID, The Ambulance is being operated by local NGO.

11.              Governance:- The Company is governed by the laws of the land and the terms and conditions of the shareholders agreement. As per the Shareholders Agreement, the Shareholders, and the Board/Board of Directors (either through itself or through various Committees of the Board) oversees the governance aspect within the Company and controls, monitors and directs the management of the Company and undertakes all strategic business decisions and monitors its implementation.   

The Board comprises of Independent Director, nominated by majority shareholder, nominee director of Investors and Managing Director and Chief Executive Officer of the Company.

The Board has the following Committees such as Audit and Risk Committee, Nomination and Remuneration Committee, Projects Investment Committee, Environmental, Social, Corporate Governance and Development Impact Committee. These Committees perform the functions as per the respective Terms of Reference contained in the Shareholders Agreement. 

The day-to-day administration and management of the Company is entrusted by the Board to the management team of the Company comprising of the Managing Director and Chief Executive Officer, Chief Financial Officer and other CXOs.   

12.              Business Integrity (BI) and Compliance: - The Company is governed in compliance with laws of the Land and Global best standards, the Company has drafted and implemented policies and framework with guidance and inputs from BII/ its other Investors., Business Integrity & Governance is the prime and key aspect of the business.

As per BI framework, the Company carries out risk based third party due diligence before onboarding its strategic vendors/ service providers. The results of such evaluations are assessed by the Audit and Risk Committee of the Company, which then decides to whitelist the vendor. The Company also creates awareness of the Business Integrity policies amongst its suppliers through the supplier’s code of conduct and by way of inclusion of anti-bribery and anti-corruption clauses in all vendor agreements that the Company executes.

Similarly, the Company carries out full BI due diligence check while acquiring projects to expand its renewable portfolio through inorganic route.  

Compliance: - The Company tracks all applicable statutory compliances through an online compliance software and submits the compliance certificate on a quarterly basis to the Board of Directors for their review/direction/ noting.  

13.              Economic enabler: - Till date since inception Ayana’s has paid total of   27.53 million US$ as Tax to Government accounting 1.80 Mn. US$ as direct tax and 25.72 Mn. US$ as Indirect Tax supporting economic growth of the country. (INR 82 =1USD)

 

14.              Impact of Community Development Projects implemented by Ayana: -

14.1              Micro Grid with round the clock energy: -In year 2018, A Micro Grid project was commissioned by Ayana in partnership with US Aid and other parties, the project is providing uninterrupted solar power to 25 households of marginalized communities in a very remote location of Chatra district, Jharkhand which had no energy access. Ayana spent 11428 USD for the project.

14.2              Pilot Skill development Project, Anantapur Andhra-Pradesh India: -In 2019 Ayana implemented Skill development project with aid of DFID & CDC which benefited 190 households in NP Kunta Village, Andhra Pradesh where its 250 MW Solar Project is in Operation.

The Program was funded by DFID (90%) and BII (10%).

190 Youth (80 women) were trained, with 74 number of youth placement.

https://www.ayanapower.com/photos/shares/media/Seva-fourth.mp4

14.3              Area Development in NP Kunta, Ananthapuram: - Ayana is contributing 3 MN US$ for its 250 MW solar project for local area development in a year.  The Amount will be paid for 5 years from Commissioning date of the plant totalling to 15 Mn. US$. The fund is being paid to local government for area development which includes Construction of Road, Hospitals, Drinking water facilities and other infrastructure.

 

14.4              COVID Awareness Campaign: - In year 2020, To make community aware on COVID-19, Ayana engaged with professional creative & social media company, and on 20th April 2020 launched the awareness campaign.

 

Highlights of Campaign are as following: -

To reach out minimum one million persons through Facebook, You-tube and Tick-tok within 15 days and to engage minimum20,000 persons on these social media platforms.

https://www.youtube.com/embed/ih-hfprkXE0

Key content (message) in campaign are Awareness through Posters (5 Numbers) in different language and considering government advisories, one Jingle and One Video of 3 to 4 minutes covering relevant information from WHO/ Government of India Ministry of AYUSH.

Achievements of Campaign,

 

 

14.5              Ambulance Service during COVID-19: -In May 2021, during COVID epidemic, Ayana donated an Ambulance to communities around 300 MW Bikaner project. The Ambulance will support accessibility to appropriate health care facilities and reduce critical time required to seek medical support to needy. The Ambulance is being operated by Local NGO “Sewa Bharati”.

 

14.6              Skill Development Project Bikaner (Phase-1) 2021: - With learning from its Pilot Skill development Project, Ayana designed a skill development project under which a training centre is constructed in August 2021 within the boundaries of its under construction 300 MW ISTS Solar power project in Rajasthan. The training centre is being operated through TMI Group. This Training centre will be operating for long term. £ 50,000/- is contributed by CDC for the project. 184 youths from local communities were trained and 155 are placed in FY 2022.

 

14.7              Skill Development Project Bikaner Phase -2: - Ayana Continued to operate its Skill development centre, where 200 youth will be trained in year 2023 for skill set of solar sectors with target of minimum 70% Placement. The training program is ongoing. Ayana is also implementing a Skill development project focused on Skill set of IT sector where 200 youths from catchment area of Gadag wind project are targeted with target of 70% placement from the training centre.