THE WORLD BANK l WORLD BANK GROUP November 23, 2021 Mr. Dinesh Kumar Khara Chairman State Bank of India Corporate Centre. State Bank Bh avan Madame Cama Road, Nariman Point Mumbai, Maharashtra - 400 021 Mr. Rajat Kumar Mishra Additional Secretary (MBC) Department of Economie Affairs M inistry of Finance Goverrnment of India North Block New Delhi - 110 001 Dear Mr. Khara and Mr. Mishra: India: Grid-Connected Rooftop Solar Program (Loan No. 8611-IN; CTF Loan No. TF042401; CTF Grant No. TF0A 2023) and Additional Financing for Grid-Connected Rooftop Solar Program (GEF Grant No. TF0A3 753) Closing Date Extension and Amendment We refer to; (i) the Loan Agreement ("Loan Agreement") between the State Bank of India (variously the "Borrower" or "SBV) and International Bank for Reconstruction and Development (variously 'IBRID- or the ~Bank): (ii) the Guarantece Agreemnent ("IBRD Guarantec Agreement~) between India (Guarantor') and the Bank: (iii) the Clean Technology Fund (CTF) Loan Agreement ("CT[F Loan Agreement") between the State Bank of India and the Bank, acting as an implementing entity of the Clean Technologv Fund: (iv) the CTF (uarantee Agreement (-CTF Guarantec Agreement") between India and the Bank, acting as an implementing entity of the Clean 'Technology Fund; (v) the CTIF Grant Agreenent (~CTF (rant Atreement") between the State Bank of India and the Bank, acting as an implementing entity of the Clean Technology Fund, all dated June 30. 2016: and (vi) the Global Environment Facility Grant Agreement ("GEF Grant Agreement"). between the State Bank of India and the Bank. acting as Implementing Agency of the Global Environment Facility, dated January 19, 2017, with respect to the Grid- Conneeted Rooftop Solar Program (~Program"). We also refer to the letter no F. No. 06/06/2015-FB.VIII/V dated July 7, 2021 from the Department of Economic Aflairs, Ministrv ol linance, enelosing proposal from SBl dated Februarv 10. 2021 and from the Ministry of New and Renewable Energy dated April 30, 2021 and June 21, 2021, requesting to extend the Closing Date of the above-referenced Loans and Grants for the lrogram. We are pleased to inforn you that the Bank concurs with the request and has established November 30, 2022 as the later date for purposes of Section IV.B.4 of Schedule 2 to the Loan Agreement (as cross reflrenced in the CTF Loan Agreement and the CFI Grant Agreement). and of Section IV.B.4 of Schedule 2 to the GEF Grant Agreement. Messrs. Khara and Mishra November 23, 2021 Said Closing Date extension necessitates certain revisions to the Disbursement-Linked Indicators table set forth in the Loan Agreement (as cross referenced in the CTF Loan Agreement and the CTF Grant Agreement) and in the GEE Grant Agreement. There fore, (i) Schedule 3 (Disburment-Linked Indicators, I)ishursenent-Linked Results and / llocated AImount(s Applicable it the Progrumj) of the Loan Agreement (as cross referenced in the CTF Loan Agreement and the CTF Grant Agreement) has been revised, and the revised table is attached to this letter as Amexure 1 and (ii) Schedule 3 (Disbursenn-Linked Indicators, I)i-vbursement-Linkcd Results and Allocated Anoint(s) Applicable to the Program) of the GFl Grant Agreement has been revised, and the revised table is attached to this letter as Annexure 11. Except as specifically amended in this Amendment Letter (-Amendment Lietter'). all other terms and conditions of the Loan Agreement. CTF Loan Agreement, the CTF Grant Agreement. and the GEF Grant Agreement shall remain in full force and effect. The Bank will disclose this amendment letter and related information in accordance with the Bank's Policy on Access to Information. By agreeing to this amendment letter, the Borrower consents to disclosure of this Amendment Letter and related infornation. Please confirn your agreement to the foregoing by signing the form of confirmation set forth below, and returning one fully executed original of this amendment letter to us and retaining one original for your records. This amendment letter is signed in three originals all of which shall become effective as of the date of the last countersignature of this amendment letter, upon receipt by the Bank of the duly and fully countersigned original of this amendment letter by both the Borrower and the Guarantor, other than the extension of the Closing Date, which shall become effective as of the date of this amendment letter. Yours sincerely. Junaid Kamal Ahmad Country Director, India I'inclosures Annexure I- Rev ised Schedule 3 to the Loan Agreement (as cross referenced in the CIT Loan Agreement and the CTF Grant Agreement) Annexure II - Revised Schedule 3 to the GEF Grant Agreement Messrs. Khara and Mishra -3- November 23, 2021 AGREED: STATE BANK OF INDIA Li - By: ___ Authorized Representative sundar Natrajan Name: _____ Title: Dy.Managing Director 21-Dec-2021 Date: 1. Additional Secretary of the Department of Economie Affairs of the Minisirn of Finance, Government of India, hereby express my concurrence and consent, on behalf of the Guarantor, to the foregoing restructuring of the -Grid Connecled Roqlßop Solar Progran " in the terms proposed in this letter of amendment to the I3RD Loan Agreenent (Loan No.861 1-IN) and CTF Loan Agreement (Loan No. TFOA240 ). Accordingly. I acknowIedge that: (i) the above transaction does not cons:tute a novation of the Loan Agreements; and (ii) the repayment and perförmance guarantec extended by the Guarantor in favor of the Bank pursuant to the Guarantec Agreen e:s. remais in full force and efeci SIGNE) in CONCURRED on behalf of INDIA Name: ;__ s-ra ry Title: __h Date: Messrs. Khara and Mishra -4- November 23, 2021 cc: Mr. Rajesh Khullar, Executive Director (India), World Bank Mr. Ritesh Kumar Singh, Senior Advisor to Fxecutive Director. World Bank Government of India Mr. I lanish Chhabra, Director, Department of Economic Affairs, Ministry of Finance Mr. Sukhbir Singh, Controller Aid, Accounts and Audit, Department of Economics Affairs, Ministry of Finance Mr. Indu Shekhar Chatur\ edi, Secretary, Ministry of New & Renewable EnerLY Dr. Vandana Kumar. Joint Secretary. Ministry of New & Renewable Energy Mr. Alok Kumar, Secretary, Ministry of Power State Bank of India Mr. Natarajan Sundar, Deputy Managing Director & Chief Credit Officer Mr. CLN Charyulu, Chief General Manager. Credit Policy & Procedures Department Ms. Sadhana Mankad. Deputy Generai Manager, Credit Policy & Procedures Department Ms. Anita Karnik, Vice President, Infrastructure Group, S131 Capital Markets Limited, Mumbai Messrs. Khara and Mishra November 23, 2021 Annexure I Revised Schedule 3 to the Loan Agreement (Loan No. 861l-IN) (as cross referenced in the CTF Loan Agreement (CTF Loan No. TF0A2401) and the CTF Grant Agreement (CTF Grant No. TFA2023) SCIHIElULE 3 (Disbursement-Linked Indicators, Disbursement-Linked Results and Allocated Amount(s) Applicable to the Program) DiSBURSEM DISBURSEMENT LINKED RESULTS ENT LINKED INDICATORS RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN , ACHIEVED IN FY2016/17 FY2017/18 FY2018/19 FY2019/20 FY2020/21 FY2021/22 (YEAR 1) (YEAR 2) (YEAR 3) JYEAR 4) (YEAR 5) (YEAR 6) 1 Establishi SBI has ng GRPVs established its Program or GRPV financing 581 program Allocate CTF USD 5 d amount W )& BRD / Source of Funding 2 The SBI has The SI has signed The S3I has The SBI has The 51 has The SBI has Aggregate signed loans for loans for the originated loans originated loans originated loans originated loans amounts of the financing of financing of for the financing for the financing for the financing for the financing loons installation of installation of of installation of of installation of of installation of of installat on of signed by solar (PV) solar (PV solar (Pi solar (PV ) solar (PV) solar (PV) the SBI for rooftops for an rooftops for an rooftops for an rooftops for an rooftops for an rooftops for an the aggregate additional additional additional additional additional financing amount of at aggregate amount aggregate amount aggregate amount aggregate amount aggregate amount of'GRPVs least LSD 50 of at least USD 10 of at least USD 10 of at least USD 10 of at least USD 10 of at least USD 10 power million million equivalent million equivalent million equivalent million equivalent million equivalent generation equivalent above Year 1. above Year 2 above Year 3 above Year 4. above Year 5. schemes Allocat CTF USD CTF USD CTF USD CTF U50 CTF USD CTF ISD ed 500,000 400,000 200,000 200,000 200,000 200,000 amoun e"S per USD 1 per USD 1 per ULSD 1 per U5 1 per U5D 1 (s) & 1 milion million m llion million million million Source equivale equivalent equ valent equivalent equivalent equivalent of nt of of loans of loans of loans of loans of loans Fundin loans originated originated originated originated originated g originate d BR USD IBR U5D IBR USD IBR USo IBR USD IBR U5D D 500,000, D 150,000 D 350 000 D 350,000 D 350,000 D 350,000 per US0 per USD 1 per USD 1 per USD 1 per US 1 per U5D 1 1 million million m lion million million million equivale equ valent equvalent equivalent equivalent equivalent ntof of loans of oans of loans of loans ofloans loans orig nated originated originated originated originate d 3 MW of At least 25 MW of At least 25 MW of At least 25 MW of At least 25 MW of At least 25 MW of solar (P-V) solar (Pi rooftop solar (Vi rooftop solar (PV) rooftop solar (PV) rooftop solar (Pi) rooftop Messrs. Khara and Mishra -6- November 23, 2021 DISBURSEM DISBURSEMENT LINKED RESULTS ENT LINKED INDICATORS RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN FY2016/17 FY2017/18 FY2018/19 FY2019/20 FY2020/21 FY2021/22 (YEAR 1] (YEAR 2) (YEAR 3) (YEAR 4) (YEAR 5) (YEAR 6) rooftop power generation power generation power generation power generation power generation power capacity financed capacity financed capacity financed capacity financed capacity financed generotion by SBI have been by SBI have been by SB have been by SBI have been by SBI have been installed installed and nstalled and installed and installed and installed and and commissioned commissioned up commissioned up commissoned up commissioned up cormrissio to Year 2 to Year 3 to Year 4 to Year 5 ned under 581 finoncing Alct(F NA CTF N/A TTF N/A CTF N/A CTF N/A Allocat CTF NAc edF ImunBR USE) IBR Uso IBR USD IBR USD IBR USD Ds 750,000 D 7S0,000 D 750,000 0 750,000 0 750,000) Source per MW per MW per MW per MW Of i ntle nstalled installed installed installed Fundinand and and and com ss) comrmissio commissio com co Cmissio 4, Sustainabill ty of GRP V program at 58f Allocat ed It {s) & Source Of Fundin Messrs. Khara and Milshra -7- November 23, 2021 Annexure II Revised Schedule 3 to the GEF Grant Agreement (GEF Grant No. TF0A3 753) SCHEDULE 3 (Disbursement-Linked Indicators, Disbursement-Linked Results and Allocated Amount(s) Applicable to the Program) DISBURSEMENT DISBURSEMENT LINKED RESULTS LINKED INDICATORS RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE RESULTS TO BE ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN ACHIEVED IN FY2016/17 FY2017/18 FY2018/19 FY2019/20 FY2020/21 FY2021/22 (YEAR 1) (YEAR 2) (YEAR 3) (YEAR 4) (YEAR 5) (YEAR 6) I Technca SBI has SI has SBI has 05551ance to entered into a concluded concluded key contract with a Phase 1 of Phase 2 of the stakehoYders consulting the technical technical for the firm, under assistance for assistance for implementotion terms of GRPV, as per GRPV, as per of MNRE's reference the TORs. the TORs. GRPVprogrom ("TORs") acceptable to the Bank, for the provision of technical assistance to GRPV Allocated USD 2.936 USD 5 million USD 5 million amount (s) m ion L _ 2 Piloting new SBI has originated loans for SMES and NBFCs for the financing of installation of solar business (PV) rooftops for an aggregate amount of at least USD 15 million equivalent models Allocated amount (s) USD 10 million