According to bank documents, the Project entails the development, financing, construction, testing, commissioning, operation and maintenance of a 20MWac solar PV power plant located in Benban Solar Park. All output generated by the Project will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement.
The Project is being developed by Winnergy for Renewable Energy Projects S.A.E. (the Borrower), a special purpose vehicle owned by a joint venture between Al Tawakol Electrical (Gila) S.A.E. (51%), Enerray S.p.A. (25%), Desert Technologies Industries Co. Ltd. (15%), Spectrum International for Renewable Energy LLC (8%) and others (1%), collectively, the Sponsors.
Asian Infrastructure Investment Bank (AIIB):
Ms. Carmen de Castro
Project Team Leader / Investment Operations Specialist
Company: Altawakol Electric Gila
Point of Contact: Mohamed Tawakol
Address: 33 26th of July st, Cairo, Egypt
Phone: 00 202 25784004
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
ACCOUNTABILITY MECHANISM OF AIIB
In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB’s policies, “people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank’s oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism.” However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.