JCM POWER EUROPE BV (FMO-54975)

Countries
  • Pakistan
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
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
Jun 12, 2020
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
JPL Holding Pte. Ltd
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)
$ 0.32 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 Jun 29, 2020


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Project Description

According to the bank's website, "The Jhimpir wind corridor has excellent wind resources, and several other projects in different stages of development/construction or operation are located in the area. As part of acquiring the Project, FMO also seeks to provide long-term capital to the Project's developer and gain access to an attractive portfolio of operating and development assets in Pakistan. This will allow FMO to build out renewable energy capacity in a market which is characterized by a power deficit."

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • JPL Holding Pte. Ltd -- Implementing Company

According to the bank, the JPL Holding Pte. Ltd is "a company incorporated in Singapore and 100% owner of Jhimpir Power (Private) Limited, a 50 MW wind-powered generating facility located in the Jhimpir Valley, Pakistan (the "Project"), operational since March 2018. The JPL Project has been developed by a Dubai-based company engaged in renewable power development focusing on both utility scale and distributed generation strategies."

Contact Information

No contact information provided at time of disclosure.

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