SASFIN Solar (IFC-35342)

  • South Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 27, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Sasfin Solar SPV
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 2, 2017

Disclosed by Bank Mar 18, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The proposed project is an up to ZAR 150 million Senior Loan to NEWCo Ltd., a newly established special purpose vehicle owned 50% by Sasfin Commercial Solutions (Incentives) (Pty) Ltd., a member of Sasfin Holdings Limited, a mid-tier specialist banking and financial services group focusing on entrepreneurial corporate, commercial SMEs and private clients in South Africa; and 50% by Terra Firma Solutions (Pty) Ltd, a turnkey energy engineering solution provider based in Cape Town. The purpose of the IFC Loan is to support NEWCo’s ZAR 200 million lending program for rooftop solar photovoltaic installations in South Africa targeting local commercial and industrial entities. NEWCo will build, own and operate the installations and will lease the solar assets to clients under long term lease contracts.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Sasfin Bank Limited Sasfin Place, 29 Scott Street, Waverley 2090 PO Box 95104, Grant Park 2051 Johannesburg, South Africa Tel: +27 11 809 7500 Fax: +27 11 887 6167 E-mail: Terra Firma Solutions (Pty) Ltd. Suite 1B, Ground Office Floor Level, Madison Place, Alphen Office Park Constantia, Cape Town, South Africa Phone: +27 21 300 1620 Fax: +27 21 300 1621 ACCOUNTABILITY MECHANISM OF IFC 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 You can learn more about the CAO and how to file a complaint at

How it works

How it works