Nigeria Solar Capital Partners Ltd/ Globeleq/ARM-Harith (MIGA-6ae0c0a789)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
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
Dec 1, 2017
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
Nigeria Solar Capital Partners Mauritius Ltd
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)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 61.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 61.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Feb 26, 2019

Disclosed by Bank Aug 2, 2017


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Project Description

Nigeria Solar Capital Partners Limited (NSCP) is developing a 100MW solar power plant (hereafter referred to as the "Project") in Bauchi State, Nigeria. Pursuant to a Joint Development Agreement signed in 2016, the project is under co-development with Globeleq Advisors Limited and the ARM-Harith Infrastructure Fund.

The Project involves the construction and operation of a photovoltaic power plant with 100 MW installed capacity, in Zongoro Village, Bauchi State, Nigeria. The Project will also include an 18 km 330 kV overhead transmission line to interconnect the power plant with to the national grid, and ancillary infrastructure such as an internal substation, office buildings and control centre, and internal access roads.

NSCP is a joint venture between Industry Capital, a private equity group based in California, and Gigawatt Global, a Dutch-based renewable energy company focused on the development and management of solar power plants in emerging markets.

The proposed project will comprise of polycrystalline photovoltaic (PV) solar panels with a total installed capacity of 100 MW, occupying a total project area of approximately 200 ha. The project will also include an on-site substation, ancillary facilities such as a control building and residential quarters, lay down and staging area, and a 18km long 330 kV transmission line connecting the project to the national grid. The construction period is expected to be between 12 and 18 months. An EPC contractor for the Project has not yet been selected.

The Project is a category A under MIGA's Policy on Environmental and Social Sustainability (2013). The main environmental and social issues associated with the Project relate to land acquisition including physical resettlement, contextual security risks, workers and community health and safety risks, and waste management.

 

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information

No contact information provided at the time of disclosure

ACCOUNTABILITY MECHANISM OF 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/