Symbion Power Lake Kivu Limited (MIGA-9d7d6595a5)

Countries
  • Rwanda
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
Proposed
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
Feb 1, 2019
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
Symbion Power 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)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Mar 7, 2019

Disclosed by Bank Dec 21, 2018


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Project Description

MIGA has been approached by Symbion Power Mauritius Ltd. to cover its equity investment to Symbion Power Lake Kivu Limited (SPLK), which is a special purpose vehicle established to develop the Kivu 56 Power Plant (Kivu 56 or the Project). The Project involves the design, construction, operation and maintenance of four off-shore gas extraction facilities (GEF) on Lake Kivu, an on-shore gas processing facility, pipelines connecting the GEFs to the on-shore facility (together, the Gas Plant), a 56 MW gas power plant, and ancillary infrastructure including a transmission line and a 600 m access road. The Project is located on the Rwandan side of Lake Kivu in Rubavu District on a peninsula near Busoro, approximately 10 km south of Rubavu and 150 km from Kigali. The GEFs will be constructed as floating platforms tethered to the bottom and located approximately 2 km from the nearest shore, and 5 km from the Project's on-shore facilities.

 

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Private Actors
  • Symbion Power Mauritius Ltd -- Parent Company
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/