My Ly and Nam Mo 1 Hydropower Plants (MIGA-13530)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Laos
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ky Son, Nghe An province -Vietnam and Houaphan, Xiangkhoang province -Laos
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
  • Multilateral Investment Guarantee Agency (MIGA)
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
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
Dec 22, 2017
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
Goldman Sachs (Asia) LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 900.00 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.
Other Related Projects
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 10, 2024

Disclosed by Bank Dec 21, 2017

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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 bank documents, the project involves the construction and operation of (i) the My Ly hydropower plant on the main course of the Ca River located in My Ly commune, with an installed capacity of 180 MW; and (ii) the Nam Mo 1 hydropower plant on the Nam Mo River located in Ta Ca commune, with an installed capacity of 90 MW. Both communes are within the Ky Son district of Nghe An Province in Vietnam. While the main power generation facilities will be located in Vietnam (powerhouse, head and tailrace tunnels, switchyard, substation, etc.), the water reservoirs and dam structures will overlap both Vietnam and Lao PDR. The electricity produced by the projects will be delivered to the Vietnam national grid via two transmission lines (80km of 220 kV) running from Ban Ve commune, Nghe An Province to both power plants. An offtake arrangement in the form a Power Purchase Agreement (PPA) is expected to be signed between the My Ly Nam Mo Hydropower Joint Stock Company and Vietnam's national utility company, Vietnam Electricity (EVN) for the purchase of electricity on a take-or-pay basis.

The My Ly project will relocate 1,530 people in 4 villages in Kyson-Nghe An, Vietnam and 871 people 5 villages in Kouan and Nonghed district, Houaphan and Xiangkhouang, Lao PDR. The Nam Mo 1 project will relocate 2,513 people in 11 villages in Kyson district, Nghe An, Vietnam and 224 people in 5 villages in Nonghed district, Xiangkhoang, Lao PDR. Start of construction is assumed to be 2018, i.e. preferably at the beginning of the dry season, and last for four years. The construction schedule is based on the construction procedures and corresponding rates of progress described in the Feasibility Report.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ENVIRO - DEV Contractor -
- - - - Goldman Sachs (Asia) LLC Investor Finance
- - - - Power Engineering Consulting Joint Stock Company I (PECC1) Contractor -

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.

No project contacts provided at the time of disclosure.

ACCOUNTABILITY MECHANISM OF 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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