BANGLA SUN SOLAR ENERGY LIMITED (FMO-58954)

Countries
  • Bangladesh
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
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
Sep 8, 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
Bangla Sun Solar Limited (BSSL)
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)
$ 0.05 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 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

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
  • Netherlands Development Finance Company (FMO)
Private Actors
  • Bangla Sun Solar Limited (Client)
Contact Information

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