OCP Solar #2 (IFC-48626)

Regions
  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Morocco
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ouled Hassoun Hamri and Jaafra, Benguerir; Commune of Krifate, Khourigba
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
Approved
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
Oct 6, 2023
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
OCP S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Mining
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)
$ 105.94 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.
Currency conversion note:
Bank reported 100
Converted using 2023-10-06 exchange rate.
Loan Amount (USD)
$ 105.94 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.
Currency conversion note:
Bank reported 100
Converted using 2023-10-06 exchange rate.
Project Cost (USD)
$ 380.00 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
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 12, 2023

Disclosed by Bank Sep 6, 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.

As stated on the project disclosure page, the proposed IFC investment consist of a EUR100m corporate debt facility to OCP SA, an existing client of IFC. The investment will support the second phase of OCP’s solar program through the development of two greenfield solar photovoltaic power plants with a combined installed capacity of 400 MWp, at the company’s Benguerir and Khourigba phosphate mine zones in central Morocco.

The PV plant at Benguerir will be developed in two stages within a 1000-ha site located 8 km east of the city of Benguerir in the communes of Ouled Hassoun Hamri and Jaafra, Rhamna province, Marrakech-Safi region. The first stage will consist of 30 MW and the second stage will be 271 MW with a 100 MWh Battery Energy Storage System. The 99 MW PV plant at Khourigba will be developed in a single stage within a 770-ha site, located 26 km to the southeast of the city of Khouribga, in the commune of Krifate, Fquih Ben Saleh province, Béni Mellal-Khenifra region.

Both sites have been dedicated for the development of future OCP solar plants. The first stage of the Benguerir plant will use existing grid connections; whereas the second stage will require a new substation and OTL to be constructed, the details of which will be confirmed at the feasibility stage of the project. The Khourigba plant will connect to an existing substation via a new 5 km, 60 kV OTL to be built as part of the project. The Benguerir site is directly accessible by the regional R206 road linking Benguerir to El Kelaa, which connects to the national N°9 road connecting Casablanca to Marrakech. Access roads will connect the Khourigba site to the national N11 road linking Khouribga to Fquih Ben Saleh.

Construction for the Benguerir stage one and Khourigba is expected to start in August 2024 and for Benguerir stage two in July 2025 and expected to take around 12 months.

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.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

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

Private Actor Relationship
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.

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, OCP SA, a state-owned enterprise, is a fully integrated phosphate fertilizer producer with operations at every stage from mining to processing to sales of phosphate products. The Company is the largest producer and exporter of phosphate rock and phosphoric acid globally. OCP’s shareholders are the Moroccan State and other minority shareholders with, respectively, 94.1% and 5.9% ownership.

As part of its sustainability strategy, OCP plans to become carbon neutral by 2040. The Company has increased the share of clean sources in its total energy consumption from 30 percent in 2017 to 47 percent in 2022. Within the electricity segment, OCP sourced 87 percent of its electricity from clean sources in 2022 (cogeneration – 76 percent; and wind – 11 percent), while 13 percent was supplied by ONEE via the national grid. OCP plans to source 100% of its electricity needs through wind, solar (including battery storage) and cogeneration by 2030.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - OCP Group Client Mining
OCP Group Client Mining invests in JESA S.A. Contractor Infrastructure

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 - OCP S.A.:

Hassan KADDOURI - CEO, OCP Green Energy
Phone: +212(0)522 22 20 25
Email: h.kaddouri@ocpgroup.ma
Address: 2-4, rue Al Abtal, Hay Erraha, 20200, Casablanca, Maroc, 20000 MA
Website: https://www.ocpgroup.ma/

Local Access of Project Documentation:

OCP Green Energy, Lot 660, Hay Moulay Rachid, 43150, Benguerir - Maroc.

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