Camco REPP 2 SCSp (FMO-64032)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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 6, 2024
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
Camco Management Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 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.
Project Cost (USD)
$ 250.00 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.
Primary Source

Original disclosure @ FMO website

Updated in EWS Dec 23, 2024

Disclosed by Bank Sep 19, 2024

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Contact the EWS Team

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 on the project disclosure page, FMO will invest up to USD 50 mln into the Fund's debt layer, of which up to USD 30 mln will be committed to the Fund's first close. First-close fund size will be around USD 100 mln and final target fund size is USD 250 mln. FMO's funding will be invested into different projects and companies in the renewable energy sector, including smaller Independent Power Producers, mini-grids, isolated grids and energy access companies. REPP2's investment objectives are (i) to invest and support the small to medium scale distributed renewable energy sector in Sub-Saharan Africa (as defined by the UN) with a particular focus on LDCs, thereby achieving a sustainable return on investments for investors, and (ii) to mitigate GHG emissions and build the climate resilience of the energy system.

Debt financing for small to medium scale energy companies and projects in Africa is considered scarce, particularly in LDCs. The Fund is highly aligned with FMO's strategy to reduce inequalities between countries and to support initiatives related to energy access. FMO's Green and Reducing Inequalities labels are expected to apply 100% given the investment focus of REPP2 on renewable energy projects in LDCs.

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.

The FMO categorized the project risk as B+. This concerns an Environmental and Social (E&S) risk category B+ investment. While most of the investments in the currently presented pipeline are assessed as low to medium risk and the Fund is excluding category A investments, some investments will be made in Fragile States with higher contextual risks. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
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 the FMO, Camco REPP 2 SCSp (“REPP2” or “Fund”) is a newly created fund providing debt and hybrid instruments to renewable energy projects and companies in Sub-Saharan Africa, focusing on least developed countries (LDCs). The Fund is managed by Camco Management Limited as fund advisor supported by Innpact Fund Management S.A, as the third-party alternative investment fund manager. REPP2 fund is a successor of the Camco-managed REPP phase 1 fund.


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.

Financial Intermediary - Camco Management Limited:

Email: info@camco.fm
Phone: +44 20 8142 9187
Website: https://www.camco.fm/repp-2

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

How it works

How it works