Original disclosure @ IFC website
Updated in EWS Apr 25, 2021
Disclosed by Bank May 30, 2020
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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$20 million of mobilized loan.
YMP is a distributed generation developer providing solar power to telecom towers and clients located in off-grid areas in Myanmar.
Up to date, the company has implemented 250 tower sites across Myanmar, and this proposed investment by IFC (the “Project”) will support the company’s expansion over the coming 5 years to
(i) 2,000 tower Distributed Generation (DG) sites (including up to several hundred corresponding community electrification sites), totaling an installed capacity of about 30 Mega Watts across Myanmar; and
(ii) to provide installations of rooftop solar power to C&I clients.
Each YMP Photo Voltaic (PV) ground station has on average a land footprint of about 1 acre. The Project spans over 2,000 tower sites, 375 community electrification sites and 30MWs of C&I rooftop power within Myanmar. "
The total project cost is expected to be approximately US$ 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.
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||-|
1/ The Project Contact
Yoma Micro Power Myanmar Limited
Contact: Alakesh Chetia - CEO
Phone number: +95 9261792392
Address: The Campus1 Office Park, Rain Tree DrivePun Hlaing Estate, Hlaing Thayar TownshipYangon 11401, Myanmar
2/ IFC Contact
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
3/ Local Access for Project Document
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/