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

Countries
  • Nigeria
Geographic location 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
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
Dec 1, 2017
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
Nigeria Solar Capital Partners Mauritius Ltd
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)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 61.00 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.
Project Cost (USD)
$ 61.00 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.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Feb 26, 2019

Disclosed by Bank Aug 2, 2017


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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.

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

Contact Information
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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/

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