KTDA Small Hydro (IFC-36402)

Countries
  • Kenya
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
Approved
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
Nov 11, 2015
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
KTDA Power Company Limited
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 86.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 21, 2017

Disclosed by Bank Sep 16, 2015


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Project Description
This project finances the design, construction, operation, and maintenance of 7 run-of-the-river small-hydropower plants with a total installed capacity of 16MW at various locations in Kenya.
Investment Description
  • International Finance Corporation (IFC)
This project is being developed by KTDA Power Company Limited (KTDA Power), a wholly owned subsidiary of Kenya Tea Development Agency Holding Limited (KTDA), both of which are domiciled in Kenya. Each of the seven small hydropower plants will provide captive power generation for KTDA’s tea factories, and will sell any excess to the state-owned utility company, Kenya Power and Lighting Company. KTDA is a public limited liability Kenyan holding company, is wholly owned by 54 Tea Companies, which own 66 tea factories. As of June 31, 2015, there were approx. 560,000 smallholder tea farmers who are individual shareholders in the 54 Tea Companies. Individual farmers' shareholding in their respective Tea Companies is commensurate to the volume of their green leaf tea deliveries. Each Tea Company owns between 1-2% of KTDA. KTDA emerged from the privatization of the Kenya Tea Development Authority in 2000. The Kenya Tea Development Authority was established in 1964 as a government parastatal charged with promoting and fostering the development of tea for the small-scale tea growers primarily through providing factory management services. KTDA is an existing client of IFC and also the sponsor and guarantor of the proposed project. KTDA Power was established in 2010, as a wholly owned subsidiary of KTDA, with a mandate to implement the small hydropower projects as well as all other energy related KTDA projects.
Contact Information
Lucas G. Maina General Manager KTDA Power Company Ltd KTDA Farmers Building, Moi Avenue Street P.O. Box 30213 GPO00100 Nairobi Tel: +254 20 322 7929/51 Fax: +254 20 221 1240 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 CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/