Sevan-Hrazdan HPP Rehabilitation (IFC-605194)

Countries
  • Armenia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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."
Sectors
  • Energy
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 15, 2021

Disclosed by Bank Jul 13, 2021


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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 wesbite the project will fund the development of a study by IFC and in cooperation with the International Power Corporation of Armenia on prioritizing the options for rehabilitating the Sevan-Hrazdan hydropower (HPP) cascade and increasing generation output.

By analyzing several alternatives aimed at reducing losses and increasing generation, IFC would help the client define the best option to improve operational performance of the Sevan-Hrazdan hydropower plants in line with the best international practice.

Based on the results of the study, IFC could consider an investment in the rehabilitation of the cascade as an important source of low cost, reliable and low carbon energy for Armenia.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The objective of the project is to work with the International Power Corporation of Armenia (IPC) to develop a study on the options for increasing generation from the Sevan-Hrazdan hydropower (HPP) cascade. By analyzing several alternatives aimed at reducing losses and increasing generation, IFC would help the client define the best option to improve operational performance of the Sevan-Hrazdan hydropower plants in line with the best international practices. Based on the results of the study, IFC could consider an investment in the rehabilitation of the cascade as an important source of low cost, reliable and low carbon energy for Armenia.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.

PROJECT CONTACT INFORMATION 

Not available at the time of disclosure.

ACCESS TO INFORMATION

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ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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