KITKA Wind (EBRD-50451)

Countries
  • Kosovo
Where the impacts of the investment may be experienced.
Specific Location
Kamenica Municipality
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
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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
Jun 19, 2019
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
Air Energy SH.P.K.
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Infrastructure
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)
$ 19.61 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 17.5
Converted using 2019-05-15 exchange rate.
Project Cost (USD)
$ 81.81 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 73
Converted using 2019-05-15 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 7, 2019

Disclosed by Bank May 15, 2019


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Project Description

According to the Bank's website, this project provides financing to Air Energy SH.PK. to construct the first wind farm in the country. 

According to the Bank's Environmental and Social Summary, the wind farm will be a sufficient distance away from inhabited areas and any protected or conservation areas. The land in the project site was acquired through negotiated leases. Community engagement and disclosure of information has been conducted. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Air Energy SH.P.K. is a special purpose vehicle established for the purpose of the project. It is owned by the Turkish engineering and construction conglomerate Guris Group. 

Contact Information

Derya Sözen Önder/Tarik Aygün
donder@guris.com.tr/taygun@guris.com.tr
+90 (312) 484 0570
+90 (312) 484 2677
www.guris.com.tr
ANKARA CADDESI NO: 222 KARAOGLAN MAHALLESI GOLBASI 06830 ANKARA/TURKIYE

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.