OCP Solar #1 (IFC-46531)

Regions
  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Morocco
Geographic location where the impacts of the investment may be experienced.
Specific Location
Benguerir and Khouribga.
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
Feb 16, 2023
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
OCP S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
  • Mining
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)
$ 108.27 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.
Currency conversion note:
Bank reported 100
Converted using 2023-01-18 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 13, 2024

Disclosed by Bank Jan 17, 2023

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Can you contribute information about this project?
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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.

According to bank provided information, OCP SA (“OCP” or the “Company”, https://www.ocpgroup.ma/) and/or its wholly owned subsidiary, OCP Green Energy SA, plan to design, install and operate four greenfield, captive solar power plants at two of the Company’s phosphate mines in central Morocco, with a cumulative installed capacity of 202 MWp (the “Project”). The plants will supply OCP’s mines with green electricity during daytime hours.

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

The Project cost is estimated at €159.2 million. The proposed IFC investment comprises a senior Green Loan of up to €100 million to the Company.

Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

OCP’s shareholders are the Moroccan State and other minority shareholders with, respectively, 94.1% and 5.9% ownership.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

OCP SA, a state-owned enterprise, is a fully integrated phosphate fertilizer producer with operations at every stage from mining to processing to sales of phosphate products. The Company is the largest producer and exporter of phosphate rock and phosphoric acid globally. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - OCP Group Parent Company -

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.

OCP S.A.
Hassan Kaddouri
CEO, OCP Green Energy
+212 (0) 522 22 20 25
h.kaddouri@ocpgroup.ma 
2-4, rue Al Abtal, Hay Erraha, 20200, Casablanca, Maroc, 20000 MA
https://www.ocpgroup.ma/ 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/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 

How it works

How it works