Original disclosure @ FMO website
Updated in EWS Aug 19, 2022
Disclosed by Bank Aug 3, 2022
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According to bank proviuded information, the objective of FMO's financing is to fund the development, construction, and operation of 50MW of solar PV plants in Sierra Leone.
Planet Solar Energy (SL) Ltd. is a company incorporated in Sierra Leone set up to develop five solar PV power plants across 4 distinct sites across Sierra Leone. FMO will invest, in a transaction led by Frontier Energy, a fund manager focused exclusively on investments in renewable energy projects in West and East Africa.
The prospective investment is categorized as E&S risk Category A. The projects will be constructed on leased lands held under customary tenure, involving economic resettlement and some limited physical resettlement, livelihood restoration planning and execution.
The following IFC Performance Standards are triggered:
PS1: Assessment and Management of Environmental and Social Risks and Impacts
PS2: Labor and Working Conditions
PS3: Resource Efficiency and Pollution Prevention
PS4: Community Health, Safety and Security
PS5: Land Acquisition and Involuntary Resettlement and
PS6: Biodiversity Conservation and Sustainable Management of Living Natural Resources.
PS7 (Indigenous Peoples) is not triggered, as the project will not impact indigenous peoples as defined in PS7;
PS8 (Cultural Heritage) may be triggered to a limited extent.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Planet Solar Energy (SL) Ltd.||Client||Energy|
*Contact information not provided at the time of disclosure*
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: email@example.com
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