Eni Biofuel KEN (IFC-47491)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Kenya
Geographic location where the impacts of the investment may be experienced.
Specific Location
Makueni, Kwale, Nakuru
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
Jan 31, 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
ENI KENYA BV
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • 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)
$ 210.00 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.
Loan Amount (USD)
$ 210.00 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)
$ 213.00 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.
Bank Documents
Media Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 1, 2023

Disclosed by Bank Nov 15, 2023

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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 IFC, as part of the corporate zero net emissions strategy launched in 2020, Eni S.p.A. (Eni) is targeting net zero carbon emissions by 2050. This target will be achieved through a variety of fully decarbonized products, combining environmental and financial sustainability with a strong focus on technological leadership built on years of research and innovation.

As part of this strategy, through its affiliate Eni Kenya B.V., Eni has initiated a biofuel project in Kenya. The Project involves contractual engagement of third-party farmers and aggregators to supply oil seeds (feedstock) into Eni-owned agri-processing plants, where these seeds will be processed to produce vegetable oils for export to Eni bio-refineries in Italy and further refined into different bio-energy products (biofuels).

Eni will develop and oversee supply chains for the agri-hubs, including ~200,000 ha of oilseeds production, and reaching over 200,000 smallholder farmers through contracted aggregators. The biofuels will be International Sustainability and Carbon Certification (ISCC) certified as advanced biofuels, being produced from “low indirect land-use change” feedstocks that do not compete with food production because these non-edible oilseeds, like castor and croton, are grown on degraded lands not suitable for food production and/or are grown in rotation/inter-cropping with food crops. 

Eni Kenya B.V.’s first and second agri-processing plants have been built respectively in the Kenyan counties of Makueni and Kwale while the third one is planned to be built in the county of Nakuru. The location of the fourth agri-processing plant is yet to be confirmed.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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 IFC, Eni Kenya B.V. is wholly owned by Eni International B.V., which in turn is wholly owned by Eni. Eni, formed as a result of the transformation of Ente Nazionale Idrocarburi, a public agency, pursuant to Law No. 136 of February 10, 1953, is an integrated energy company with operations in 62 Countries and a workforce of 32,188 (11,310 abroad) as of December 31st, 2022. Eni operates in oil, natural gas, and energy in general, with a particular focus on renewable energies, and is active in the development of circular economy projects, forest conservation and CO2 capture and storage. In June 2020, the Board redefined the Company’s organisational structure, launching a new arrangement consistent with the corporate mission and the new long-term strategy, aimed at transforming the company into a leader in the production and sale of decarbonised energy products.

Eni is subject to the control of Italy’s Ministry of the Economy and Finance, through stakes held directly in the Company (with 4.667%) and indirectly (27.731%) through Cassa Depositi e Prestiti S.p.A. (CDP S.p.A.), a company controlled by the Ministry. The balance of the shares (with 67.602%) is held by institutional investors, retail, and treasury shares. Eni is a company that issues shares listed on Euronext Milan operated by Borsa Italiana S.p.A. and securities traded on the New York Stock Exchange (NYSE) in the United States.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Eni SpA Parent Company Energy owns Eni International BV Parent Company Energy

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.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - Eni Kenya B.V.:

Andrea Saccarello - Project Manager
Phone: +254 709 993 290
Email: andrea.saccarello@eni.com
Address: Eaton Place, 5th Flr, Gigiri, U.N. Crescent, Off Limuru Road, PO Box 2913-00621, Nairobi, Kenya
Website: https://www.eni.com/en-IT/eni-worldwide/africa/kenya.html

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