Tsavo Power Company Limited (Kipevu II) (MIGA-843c6006be)

Countries
  • Kenya
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.
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
B
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
Mar 1, 2019
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
IPS Power Investment Limited
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)
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.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Apr 3, 2020

Disclosed by Bank Dec 21, 2018

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

PROJECT DESCRIPTION

Industrial Promotion Services Power Investment Limited (IPS), Cinergy Global Tsavo, CDC Financial Services Limited and Tsavo Power International Limited Liability Company c/o Wartsila of Cayman Islands (the "Guarantee Holders" or "GH") are seeking to acquire MIGA coverage for the existing Tsavo (Kipevu II) Power Plant, an operating Heavy Fuel Oil (HFO) fired power generation plant with a capacity of 74.5 megawatts (MW), located along Kipevu Road, Mombasa County, Kenya (the "Project" or "power plant"). The power plant is currently in its 18th year of operation. Construction of the power plant commenced in September 2000 and the commercial operation date was reached on September 4th, 2001. The power plant is comprised of: seven diesel generators; two HFO tanks; one water tank; two transformers; an engine room and various auxiliary and supporting components. The Project has a 20-year power purchase agreement (PPA) signed in January 2000, with the Kenya Power and Lighting Company Limited (Kenya Power), the national electric utility company. A Kenya Power sub-station is located adjacent to the plant.

The Project is located on 3.2 hectares (ha) of land, within an industrial zone overlooking the Mombasa Port Area and is adjacent to Kipevu I (63 MW) and Kipevu III (120 MW) power stations, as well as railway lines and port facilities. The three power plants are located within the same fenced area, with shared security. The nearest residential area, Changamwe, also includes commercial and industrial activities, and is approximately half a kilometer from the Project.

 

 

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.

Att: Aleem Karmali

Nation Centre, 13th floor, Kimathi Street,

Nairobi, Kenya.

Telephone Number: + 254 722-205283

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/

How it works

How it works