Itezhi Tezhi Power Company (MIGA-14467)

Countries
  • Zambia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 22, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Tata Power Company Limited
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 36.68 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 23, 2017

Disclosed by Bank Aug 1, 2016


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Project Description
Project description The proposed project consists of the development, construction and operation of a 120-megawatt hydropower station in Itezhi Tezhi, Zambia. The hydropower facility is situated on the Itezhi Tezhi dam along the Kafue River, and consists of a waterway tunnel, two 60-megawatt turbine generators, and interconnection facilities. The electricity generated from the plant is connected to an already existing transmission line to Lusaka. It covers equity investments by The Tata Power Company Limited into Itezhi Tezhi Power Corporation Limited (“ITPC”). The investor has applied for a MIGA guarantee of up to $36.68 million for a period up to 20 years against the risk of expropriation; transfer restriction, breach of contract, and war and civil disturbance.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information
ACCOUNTABILITY MECHANISM OF MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/