Yoma Micropower (IFC-43413)

Countries
  • Myanmar
Geographic location where the impacts of the investment may be experienced.
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."
Borrower
YOMA MICRO POWER MYANMAR LTD.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 57.40 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)
$ 50.00 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)
$ 204.00 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.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 25, 2021

Disclosed by Bank May 30, 2020

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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 project is a follow-up investment in Yoma Micro Power (S) Pte. Limited (“YMP” or the “company”) for an amount of up to US$87.4 million, comprising:

1/ An IFC A Loan of US$30 million and additional equity of US$7.4 million, and

2/ US$20 million of mobilized loan.

YMP is a distributed generation developer providing solar power to telecom towers and clients located in off-grid areas in Myanmar.

Up to date, the company has implemented 250 tower sites across Myanmar, and this proposed investment by IFC (the “Project”) will support the company’s expansion over the coming 5 years to

(i) 2,000 tower Distributed Generation (DG) sites (including up to several hundred corresponding community electrification sites), totaling an installed capacity of about 30 Mega Watts across Myanmar; and

(ii) to provide installations of rooftop solar power to C&I clients.

Each YMP Photo Voltaic (PV) ground station has on average a land footprint of about 1 acre. The Project spans over 2,000 tower sites, 375 community electrification sites and 30MWs of C&I rooftop power within Myanmar.   "

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

The total project cost is expected to be approximately US$ 204 million, to be financed with a combination of debt, equity and internal accruals.

The proposed IFC investment is an IFC A Loan of US$30 million, MCPP Loan of US$20 million, and IFC’s fresh equity of US$7 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.

 The Company is currently owned by Yoma Strategic Holdings (35%), IFC through InfraVentures (30%), Norfund (30%) and Mr. Alakesh Chetia (CEO) (5%).     

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - KLP Norfund Investments Investor -
- - - - Yoma Micro Power Pte. Ltd. Client -
- - - - Yoma Strategic Holdings Parent Company -

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.

1/ The Project Contact

Yoma Micro Power Myanmar Limited
Contact: Alakesh Chetia - CEO
Phone number: +95 9261792392
Email: alakesh.chetia@yomamicropower.com
Address: The Campus1 Office Park, Rain Tree DrivePun Hlaing Estate, Hlaing Thayar TownshipYangon 11401, Myanmar
Website: https://www.yomamicropower.com

2/ IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/ Local Access for Project Document

The Campus
1 Office Park, Rain Tree Drive
Pun Hlaing Estate, Hlaing Thayar Township
Yangon 11401, Myanmar

ACCOUNTABILITY MECHANISM OF IFC

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