Kampong Solar (IFC-42750)

Countries
  • Cambodia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kampong Chhnang
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
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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
Mar 1, 2021
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
Prime Road Alternative (Cambodia) Co., Ltd
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)
$ 8.00 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)
$ 41.00 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 @ IFC website

Updated in EWS Apr 21, 2021

Disclosed by Bank Jan 26, 2021

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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's website, "The Project consists of a 60 MW solar power plant (the “Project”) located in in a site of approximately 100 hectares in Cambodia’s Kampong Chhnang province, 60 km northwest from Phnom Penh. The Project is expected to start construction in April 2021 and become operational by June 2022 and will sell electricity to Electricite du Cambodge -EDC (Cambodia’s state-owned power utility), pursuant to a 20-year PPA.  The Project will be developed by a special purpose vehicle named Prime Road Alternative (Cambodia) Co., Ltd (“PRAC”, or the “Company”) incorporated by Prime Road Power PCL (“Prime Road”, or the “Sponsor”). The total Project cost is expected to be around US$41 million. The total IFC financing package is expected to be up to US$8 million.  The Project is part of, and shares ancillary facilities with, the larger 100 MW National Solar Park (NSP) being developed by EDC with support from the ADB."                                                

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

Canada Blended Climate Finance Program (CBCFP) US$4 million

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.

According to the bank, "Prime Road Alternative Company Limited (PRA) is the Project Sponsor. PRA is 99.99% owned by Prime Road Power Public Company Limited (PRIME), a listed company on the Stock Exchange of Thailand. PRIME focuses on the construction of power plants and generation of electricity from renewable energy and has a total installed solar capacity of 179 MW as at the end of 2019, with 132 MW in Thailand, 41 MW in Japan, and 6 MW in Taiwan. In 2019, their electricity sales amounted to US$11 million. Please refer to the PRIME website for more information (https://www.primeroadpower.com/).

In 2019, PRIME set up PRAC to develop the Project in Cambodia. PRAC is 99.99% indirectly owned by PRIME."

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Prime Road Alternative (Cambodia) Co., Ltd 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.

Prime Road Alternative (Cambodia) Company Limited
Mr. Kraiwee Jongjenkit, Mr. Navapat Aviphant
Business Development Department
+6621058686
kampongchhnang60mwsolar@primeroadgroup.com
1 TP&T Tower, 22nd Floor, Soi Vibhavadi Rangsit 19, Vibhavadi Road, Chatuchak, Bangkok, Thailand 10900
www.primeroadpower.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works