THE LEREKO METIER REIPPP FUND TRUST (FMO-45789)

Countries
  • South Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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
A
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
Mar 1, 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
Lereko Metier REIPPP Fund Trust (LMRF)
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)
$ 40.79 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported ZAR 514.08 MLN
Converted using 2017-12-25 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

WHO IS OUR CLIENT

Lereko Metier REIPPP Fund Trust (LMRF) was established in 2013 in South Africa by Lereko Metier Sustainable Capital Fund, FMO and DEG to invest in various renewable energy projects of the South African Renewable Energy Independent Power Producer Procurement Program (REIPPP). Through LMRF, DEG, FMO and LMSC have already invested in 3 wind farms (capacity 360 MW).

FUNDING OBJECTIVE

The proceeds of this financing will go towards financing of the long term equity/risk capital component of greenfield renewable energy projects.

WHY WE FUND THIS PROJECT

The project will bring the following developmental effects: Creation of employment opportunities; Improvement of availability and access to reliable electricity supply; Promotion of economic growth as there are direct and indirect links between increased growth and improved electricity generation.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.