This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Orla Wind Farm (EBRD-43892)

Countries
  • Poland
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
Feb 12, 2013
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.
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.
Primary Source

Original disclosure @ EBRD website

Disclosed by Bank Jun 20, 2012


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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.
PROJECT DESCRIPTION The EBRD is considering providing a senior loan to support the construction and operation of a 37.5 MW Orla wind farm in Poland (the "Project"). The loan is to be made available to C&C Sp. z o.o. (the "Borrower"), a special purpose company owning 100% interest in the Project. The Borrower is indirectly owned by Momentum Capital ("Momentum"), Nordex Windpark Beteiligung ("Nordex"), Eurowatt and Winergy (together the "Shareholders" or the "Sponsors"). TRANSITION IMPACT The Project's transition impact stems from three factors: THE CLIENT C&C Sp. z o.o. is a special purpose entity incorporated in Poland and fully and indirectly owned by Momentum with 40% stake, Nordex with 40% stake, Eurowatt with 11% stake and Winergy with 9% stake. EBRD FINANCE Provision of a non-recourse long-term financing denominated in Polish Zloty, in the amount of up to PLN 94 million (EUR22 million equivalent) to finance the construction and operation of Phase I of the Project, representing the entire senior debt financing for Phase I, and up to 35% of the total Project costs. Bank DnB Nord will provide the VAT facility for the Phase 1 of the Project. PROJECT COST Approximately PLN 269 million (EUR64 million). ENVIRONMENTAL IMPACT Category B. Environmental and social issues associated with the construction of a medium sized wind farm in Orla, can be readily assessed and mitigated as part of the Bank's Environmental and Social Due Diligence (ESDD). TECHNICAL COOPERATION None. COMPANY CONTACT For financial matters:
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.
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.

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