CHYSTA ENERHIIA-2011 LLC (FMO-54184)

Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ukraine
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
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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
Dec 21, 2018
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
Scatec Solar ASA
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)
$ 13.44 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)
$ 13.44 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 @ FMO website

Updated in EWS Sep 24, 2019

Disclosed by Bank Sep 25, 2018

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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.

According to the bank document, the proposed debt funding will be dedicated to the development and construction of a 30MWp PV Solar plant in Ukraine. Scatec will provide the necessary equity contributions along with a prospective co-investor. Because Kamiyanka will be funded by EBRD under their Ukraine Sustainable Energy Lending Facility ("USELF III") and EBRD's E&S Performance Requirements do apply for this Project, reference is also made to EBRD's website:

http://www.ebrd.com, and

https://www.ebrd.com/cs/Satellite?c=Content&cid=1395274751052&d=Mobile&pagename=EBRD%2FContent%2FContentLayout

 

 

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.

Scatec Solar ASA ("SSO") is a publicly-traded Norwegian developer, investor and constructor of PV solar projects in emerging markets: currently, they have 322 MW operational and over 1 GW in development. For the 30MWp, Chysta Enerhiia-2011 LLC (aka: "Kamiyanka") project in the Ukraine, the EBRD was invited as lead arranger. FMO proposed investment in Kamiyanka is an up to EUR13.5m B-Loan participation under EBRD's Loan Agreement. When in mid-2017, the Ukraine adopted a new Electricity Market Law ("New Law"), many local and international developers and sponsors realized that Renewable Energy ("RE") Projects were made possible with (i) long term power purchase agreements ("PPAs") and (ii) a Feed-in-Tariff ("FiT") in EUR.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Scatec Solar ASA Client -

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.

*There is no further information being disclosed at this stage of the project, for the project contact's info". 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works