BOHUSLAVENERGY LLC (FMO-55635)

Countries
  • Ukraine
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
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.
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)
$ 21.48 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 EUR 19.00 MLN
Converted using 2019-04-15 exchange rate.
Loan Amount (USD)
$ 21.48 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 Apr 20, 2019

Disclosed by Bank Apr 15, 2019


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Project Description

According to FMO website, the proposed debt funding will be dedicated to the development and construction of a 56MWp PV Solar plant in the Ukraine. FMO proposed investment in Boguslav is an up to EUR19m Senior loan, with syndication on a best effort basis of the remaining EUR 23 mln Senior debt. Scatec Solarwill provide the necessary equity contribution. 

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

Scatec Solar ASA (“Scatec”) is a publicly-traded Norwegian developer, investor and constructor of PV solar projects in emerging markets. Currently, Scatec has 584 MW operational globally and over 1 GW in development. For the 54MWp PV solar project Bohuslavenergy LLC (“Boguslav”) in Ukraine, FMO intends to be the lead arranger.

Contact Information

No contact information provided at the 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