CHYSTA ENERHIIA-2011 LLC (FMO-54184)

Countries
  • Ukraine
Where the impacts of the investment may be experienced.
Specific Location
Ukraine
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
  • 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
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
Dec 21, 2018
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
Scatec Solar ASA
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 13.44 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 13.44 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 24, 2019

Disclosed by Bank Sep 25, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the bank document, the proposed debt funding will be dedicated to the development and construction of a 30MWp PV Solar plant in Ukraine. Scatec will provide the necessary equity contributions along with a prospective co-investor. Because Kamiyanka will be funded by EBRD under their Ukraine Sustainable Energy Lending Facility ("USELF III") and EBRD's E&S Performance Requirements do apply for this Project, reference is also made to EBRD's website:

http://www.ebrd.com, and

https://www.ebrd.com/cs/Satellite?c=Content&cid=1395274751052&d=Mobile&pagename=EBRD%2FContent%2FContentLayout

 

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Scatec Solar ASA ("SSO") is a publicly-traded Norwegian developer, investor and constructor of PV solar projects in emerging markets: currently, they have 322 MW operational and over 1 GW in development. For the 30MWp, Chysta Enerhiia-2011 LLC (aka: "Kamiyanka") project in the Ukraine, the EBRD was invited as lead arranger. FMO proposed investment in Kamiyanka is an up to EUR13.5m B-Loan participation under EBRD's Loan Agreement. When in mid-2017, the Ukraine adopted a new Electricity Market Law ("New Law"), many local and international developers and sponsors realized that Renewable Energy ("RE") Projects were made possible with (i) long term power purchase agreements ("PPAs") and (ii) a Feed-in-Tariff ("FiT") in EUR.

Contact Information

*There is no further information being disclosed at this stage of the project, for the project contact's info". 

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