MGES Power (IFC-37045)

Countries
  • Iraq
Geographic location where the impacts of the investment may be experienced.
Specific Location
Sulaymaniah
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Dec 9, 2015
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.
Borrower
Mass Global Energy Suleimanya Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Energy
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 250.00 million
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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 24, 2024

Disclosed by Bank Oct 14, 2015

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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.

This project finances the ownership, operation, and expansion by Mass Global Energy Sulaymaniah Limited of a 1,000 Megawatt open-cycle gas-fired independent power plant with an ongoing 500MW steam turbine expansion to combined cycle in located in Sulaymaniah in the Kurdish Region of Iraq,

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Mass Global Energy Sulaymaniah Limited was established for the ownership and operation of the Sulaymaniah independent power plant. Mass Global Energy Sulaymaniah Limited is owned by Mass Energy Group Holding Limited, an independent power producer, and owner of two other operating independent power plants in the Kurdish Region of Iraq for a total installed capacity of 3500MW. In addition, Mass Energy Group Holding Limited is also developing an independent power plant in Bismayah outside of Baghdad with a capacity of 3000MW. Mass Energy Group Holding Limited is part of the Mass group of companies, owned by Mr. Ahmed Ismail Saleh and his family. Mr. Saleh is an Iraqi entrepreneur with diverse business activities in Iraq, Jordan, Sudan and the UAE.


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.

Name: Mr Shadi Abulkhair
Title: Mass Group Holding Commercial Director
Address: Wasfi Al Tal Street, Building
342 PO Box 546 Amman 11953 Jordan
Telephone Number: + 962 79 9045999
Email Address: abulkhair@massgroupholdong

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/

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