UPC Renewables Asia I Limited (FMO-48037)

Countries
  • Indonesia
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
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
Jul 27, 2017
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
UPC Renewables Asia
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 Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Oct 5, 2018


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Project Description

UPC Renewables Asia I Ltd is part of the UPC Group, which since 1995 has developed, financed and installed over 1,000 utility-scale wind turbine generators all over the world. Total global development rights on sites held by UPC would provide, once built, over 16,000 MW of wind energy.

FMO will provide a subordinated loan in combination with equity in order to enable UPC to develop a series of wind energy projects in Indonesia. Currently there are 400-500MW worth of projects in the deal pipeline.

This project has high development impact as it will provide renewable energy capacity to a country partly dependent on fossil fuels and a rising energy demand. Through this investment FMO contributes to the diversification of Indonesia's energy mix and aims to pave the way for future financiers in this sector.

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

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