Oman: Manah-1 Solar PV Independent Power Plant (AIIB-000468)

Regions
  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Oman
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ad Dakhiliyah region
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Canceled
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."
Borrower
EDF Renouvelables, Korea Western Power Company 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)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 75.00 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.
Loan Amount (USD)
$ 75.00 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.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Nov 27, 2024

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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.

As stated by the AIIB, the Project involves the development, design, engineering, construction, operation, and maintenance of a 500 MWac Manah solar I photovoltaic power plant in the Ad Dakhiliyah region of the Sultanate of Oman.

The Project is being developed by EDF Renouvelables and Korea Western Power Company Ltd., through a special purpose vehicle, which has entered into a 20-year Power Purchase Agreement commencing from the scheduled commercial operations date with Oman Water and Power Procurement Company SAOC in March 2023. Post the PPA expiry, the Project Company will be eligible to sell the electricity under the spot market regime in Oman.

As of November 27, 2024, the project disclosure does not appear on the AIIB's website anymore, indicating the project might have been dropped or canceled.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, EDF Renouvelables produces renewable energy electricity. The Company generates electricity from wind and solar energy, hydro power, and biomass material, as well as offers development, construction, production, operation, and maintenance of power plants. EDF Energies Nouvelles serves customers in Europe and North America.

Korea Western Power Co., Ltd generates and supplies electricity. The Company provides electric energy to residential, commercial, and industrial uses. Korea Western Power manages thermal power stations, pumped-storage power plants, and combined cycle power plants in South Korea.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Oman Power and Water Procurement Company Buyer Infrastructure
Korea Western Power Co Ltd Client Energy contracts with EDF Energy Renewables Client Energy

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.

AIIB Team Leaders:

Mehek Marwaha - Senior Investment Operations Specialist
Email: mehek.marwaha @aiib.org

Yi Han - Investment Operations Specialist
Email: yi.han@aiib.org

Borrowers -

EDF Renouvelables:

Website: https://www.edf-renouvelables.com/en/

Antonio Valentin Diaz - Head of Projects Delivery
Email: Antonio.ValentinDiaz@edf-re.fr

Francisco Luque - Technical Lead
Email: Francisco.luque@edf-re.ae

Vahe Hadajian - Senior Business Developer
Email: Vahe.HADAJIAN@edf-re.fr

Korea Western Power Company Ltd.:

Website: https://www.iwest.co.kr/eng/index.do

So, Dong Uk - Project Manager
Email: dusomono1@iwest.co.kr

So, Dong-Uk (Daniel) - Project Director
Email: dusomono1@iwest.co.kr

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html

How it works

How it works