Engie SLL (IFC-48736)

Regions
  • World
Geographic location where the impacts of the investment may be experienced.
Countries
  • Poland
  • South Africa
Geographic location where the impacts of the investment may be experienced.
Specific Location
Poland, South Africa and others
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
A
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
Jun 28, 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
ENGIE SA
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)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 396.65 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 370
Converted using 2024-06-28 exchange rate.
Loan Amount (USD)
$ 396.65 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 370
Converted using 2024-06-28 exchange rate.
Project Cost (USD)
$ 536.01 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 500
Converted using 2024-06-28 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 29, 2024

Disclosed by Bank Jul 25, 2024

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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 proposed investment is a 10-year, senior, unsecured, green and sustainability-linked corporate finance loan of up to €500 million to ENGIE S.A. (ENGIE or the “Company”), a French-headquartered global utility active in electricity generation, infrastructure, and energy solutions, and the world’s 4th largest electric utility. The use of proceeds consists of financing and refinancing several solar and wind assets in emerging markets, including but not limited to Poland and South Africa. The renewable energy assets are operational, under construction and under development.

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.

This is a Category A project as per IFC's Policy on Environmental and Social Sustainability given that in South Africa, two operational wind farms, Golden Valley and Excelsior Wind, have the potential to impact sensitive bird and bat species, some of which trigger Critical Habitat thresholds, through collisions with turbines and collisions with and/or electrocutions on overhead transmission interconnection lines. (Biodiversity-specific risks are described in more detail in the PS6 section of the ESRS). In Poland, none of the following impacts are expected for the existing assets already in operations, nor for the proposed pipeline of renewable energy projects: a) involuntary resettlement, b) significant risks to, or impacts on the environment including biodiversity, or c) significant occupational health and safety (OHS) risks. 

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

The proposed IFC investment consists of a senior loan for an aggregate amount of up to €500 million comprising: (i) an A Loan of up to €370 million for IFC’s own account; (ii) a Trust Loan of up to €47 million IFC acting in its capacity as the implementing entity for the MCPP; and (iii) parallel loans of up to €80 - 180 million mobilized by IFC. Structured as a green and sustainability-linked loan, the proposed investment will be used to finance and refinance solar and wind, operational and pipeline assets in Poland, South Africa and other emerging markets.

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.

ENGIE is the world’s fourth largest energy company with a market capitalization of around €37.7 billion, revenues of €82.6 billion in 2023 and almost 100,000 employees. The Company, formerly known as GDF Suez, is a French multinational utility company that was established in 2008 by the merger of Gaz de France (GDF) and Suez. It ensures the storage and delivery of gas to distribution networks, power generation facilities, and industrial sites, playing a crucial role in the country's energy security and a systemically critical role in several countries such as France and Belgium.

The French State has a shareholding in the Group of 23.64% which entitles it to 3 of the 15 seats on the Board of Directors (one Director representing the State appointed by decree, and two Directors appointed by the Shareholders’ Meeting at the proposal of the State). Through its shareholding, the French State holds 33.56% of the theoretical voting rights (33.71% of exercisable voting rights). As of January 31, 2024, other shareholders of ENGIE are Capital Group Companies (6.37%), BlackRock (5.01%), CDC (3.63%), employee shareholders (3.29%), and treasury stock (0.58%). The remaining share is public (57.48%).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Engie SA 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.

ENGIE S.A
Anne-Sophie Quelin
Structured & Trade Finance
+33 (0)1 44 22 00 00
anne-sophie.quelin@engie.com
Tour T1, 1 place Samuel de Champlain, Faubourg de l'Arche, 92930 Paris La Défense Cedex
www.engie.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