Original disclosure @ FMO website
Updated in EWS Jul 20, 2020
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According to bank provided information, FMO’s investee company is a special purpose vehicle, Djibouti Wind Company Ltd, with the sole objective to operate Djibouti Wind LP (where FMO is also an investee) which is responsible for the construction and operation of a 60 MW windfarm in the Ghoubet area, near Lake Assal, Djibouti (the Project).
FMO’s funding will be used for the construction of the Project for a total amount of more than USD 100mln. FMO will invest ca. USD 25mln in the Project; partner investors will fund the remainder. The Project will sell its electricity under a Power Purchase Agreement (PPA) to Electricite de Djibouti, the Djibouti state-owned utility. Please note, FMO has already funded ca. USD 1mln to finance the development phase of the Project. Development has now been finalized and construction will commence.
*Contact information not 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