Startimes_DARES (IFC-51065)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Nigeria
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."
Voting Date
Nov 15, 2025
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
STARTIMES SMART ENERGY NIG LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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)
$ 20.00 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)
$ 20.00 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)
$ 20.00 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 Nov 3, 2025

Disclosed by Bank Oct 2, 2025

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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 by the IFC, StarTimes Energy Nigeria Ltd is a subsidiary of the StarTimes Group, a Chinese media company with a leading market share in Africa. StarTimes is expanding into the renewable energy business as a natural extension of its TV business in rural Africa. The Company completed its first mini-grid project in Nigeria in 2024 and now with seven mini-grids projects under construction.

The proposed IFC investment consists of a revolving loan of up to US$20 million to StarTimes Energy to part finance the Company’s 4-year capital expenditure plan to construct and operate 95 mini-grids solar sites with an aim to connect 131,076 off-grid consumers by 2028. The mini-grids sites will comprise i) installed photovoltaic (PV) solar power systems with capacities ranging from 50 - 800kWp capacity; ii) lithium battery storage with capacities ranging from 200 - 1,645Wh capacity; iii) diesel generator sets with capacities ranging from 60 - 500kVA capacity and; iv) local low voltage power distribution network without transformers. The loan shall be secured entirely through an assignment of performance-based grants due to StarTimes Energy under the World Bank (WB) financed Nigeria Distributed Access through Renewable Energy Scale-up (“DARES”) project. The DARES project builds on the achievements of the WB financed Nigeria Electrification Project (NEP), which has supported the establishment of 175 mini-grids and the sale of over a million Solar Home Systems, through which more than 7.8 million Nigerians have gained access to electricity.

Proceeds from IFC financing will only be used for the construction and operation of the 95 mini grids. Land for the mini-grids is acquired in accordance with the procedures set out in the World Bank-approved Resettlement Policy Framework (RPF) developed under the DARES Platform, which serves as a core E&S instrument for projects implemented through this program. The mini-grids will be constructed in villages, on small plots of land ranging from 0.15 hectares up to 10 hectares, purchased through willing buyer-willing seller agreements. Construction at each site is expected to span four months and both construction and operation and maintenance (O&M) will be managed by StarTimes Energy.

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

As stated by the IFC, the proposed IFC financing will be a secured revolving debt facility to StarTimes Energy comprising: (1) an IFC A loan of up to US$10 million on its own account; and (2) a subordinated concessional loan of up to US$10 million from IFC as implementing entity of the IDA20 Private Sector Window (PSW) Blended Finance Facility (BFF).

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, StarTimes Group is a Chinese media company which has a leading presence in Africa. It entered the African markets in 2007 and is currently the second largest digital TV provider with operations in 36 countries and 16 million subscribers across Africa. The Company is 100% owned by StarTimes Group, of which key shareholders including StarTimes’ Chairman (controlling shares), other investors (institutional and retail investors) and StarTimes staff. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
StarTimes Group Parent Company Communications owns StarTimes Energy Nigeria Ltd Client 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 - StarTimes Smart Energy Nig. Ltd.:

Zhou Junru - Chief Financial Officer, StarTimes
Phone: +86 10 5612 9191
Email: zhoujr@startimes.com.cn 
Address: Plot No. 1124,Eldoret Close, Off Aminu Kano Crescent Wuse II, Abuja State
Website: https://startimessolar.com.ng/ 

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

How it works

How it works