BANGLA SUN SOLAR ENERGY LIMITED (FMO-58954)

Countries
  • Bangladesh
Geographic location where the impacts of the investment may be experienced.
Specific Location
Baish Pukur, Upazila (Sub-district) Dimla; District Nilphamari; Rangpur Division
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 8, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Bangla Sun Solar Limited (BSSL)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.05 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.04 MLN
Converted using 2020-09-08 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Dec 12, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank's website, "The project is a 50-megawatt (MW) solar photovoltaic (PV) power plant in Nilphamari district, which is being developed by Scatec Solar through a SPV named Bangla Sun Solar Limited (BSSL). The project is located in village Baish Pukur, Upazila (Sub-district) Dimla; District Nilphamari; Rangpur Division of North Bangladesh using more than 100 hectares of privately purchased land. The development activity of the project has been started from 2019 and is expecting to generate electricity from 2021.

By implementing the proposed Covid-19 CD project, the underlying PV Project and its employees in Headquarter, local or project site level will acquire more knowledge on the management and mitigation measures of COVID-19, key strategies of business operation and restarting in and post emergency through organizing training and peer learning sessions. This improved knowledge can be transferred to the project stakeholders and community through advocacy and consultations, using of print medias etc. The supply of PPE will enable the service providers to continue uninterpreted service delivery and enabling people's access to safe water and hand washing facilities will help to mitigate further spreading of COVID-19 in the project area and neighborhoods."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Bangla Sun Solar Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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

How it works

How it works