Early Warning System

Regions

East Asia and Pacific

Geographic location where the impacts of the investment may be experienced.

Countries

Philippines

Geographic location where the impacts of the investment may be experienced.

Specific Location

Bustos

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

Canceled

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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

BLUECAP BUSTOS B.V.

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Agriculture and Forestry
Energy

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 0.52 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.
Currency conversion note:
Bank reported EUR 0.48 MLN
Converted using 2024-01-24 exchange rate.

Primary Source

Original disclosure @ FMO website

Updated in EWS Jan 24, 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.

According to the FMO Stakeholder Engagement Team, the project is inactive, and it might have been transferred to Invest International.

The following description has been scraped by the EWS before the project was removed from the FMO's website.

The funding objective is to perform a full feasibility study for the use of Bluecap Hydro turbines in irrigation channels in the Philippines. This includes feasibility studies for 10-15 roll-out locations as well as the installation and testing for 12 months of one turbine in the demonstration location. The ultimate goal is to scale this up to 10-15 locations initially and then a gradual scale-up to 300 sites (subject to public tender), where electricity is provided to local farmers communities and to the national grid.

We fund the project to help Dutch exporters and investors to create positive impact in the Philippines. Project GENIHAR aims to increase the income generation capacity of smallholder farmers in the Philippines, using affordable green energy. The electricity is foreseen to be sold to Irrigation Associations (irrigation cooperatives for local farmers, who are responsible for the operation and maintenance of the irrigation infrastructure), for the use in the irrigation network as well as in post-harvest processing facilities that allow farmers to get higher prices for their produce and to reduce harvest losses. The project replaces obsolete steel stop-locks in existing irrigation infrastructure with fibercore stop-locks with an integrated hydro-turbine. Both the fibercore stoplocks as the turbines will be produced in the Netherlands. There is very limited environmental impact, as no heavy construction is required, and a positive impact of an additional source of renewable energy, available directly to farmer communities.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

People Affected By This Project

People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Netherlands Development Finance Company (FMO)

Private Actor Relationship

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.

Private Actors Description

As stated in the retired FMO disclosure, Bluecap Bustos BV is a Joint Venture between Bluecap Hydro B.V. and Sioux Group B.V., for the development of a feasibility study and demonstration project site in Bustos, in the Philippines.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Bluecap Hydro BV	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.

No contacts available at the time of disclosure.

Bluecap Hydro BV:

Addresses -
The Netherlands: Noordeinde 97, 2514 GD The Hague
The Philippines: BPE Corp., Unit 2104-2015, Robinsons Equitable Tower, Ortigaas Center, ADB Avenue, Ortigas Center, San Antonio, City of Pasig, NCR, Second District, Philippines
Phone (The Philippines): +64 (0)2-86346469
Email: info@bluecaphydro.com
Website: https://bluecaphydro.com/

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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