The DSPP entity undertook non-operational decisions relating to the company name and accounting practices without gaining the required approvals from the lenders before implementing the decisions. While these matters have been satisfactorily explained subsequently, they raise concerns for lenders seeking to confirm that the project entity is being managed in accordance with the requirements of the loan documents; significant time is expended to work through these issues as they are discovered. While the plant has performed above expectations, and ESHS matters related to the operations appear to be monitored closely, the nonoperational matters are equally important. This evaluation recognizes that efforts have been made to improve communication on these matters, and seeks to reinforce their importance.
Dahanu Solar Power Project