Actis South Africa Solar (MIGA-14421)

  • South Africa
Geographic location where the impacts of the investment may be experienced.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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, 2019
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.
Okavango Biology Mauritius Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 17.10 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.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jun 11, 2020

Disclosed by Bank May 11, 2020

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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 provided information, on December 19, 2019, the Multilateral Investment Guarantee Agency issued guarantees that will support the development, construction, operation, and maintenance of the Konkoonsies II and Aggeneys  solar photovoltaic (PV) power plants in the Republic of South Africa. 

The guarantees issued to Okavango Biology Luxembourg S.a.r.l, a wholly-owned subsidiary of the Actis Energy 4 LP Fund (AE4) (a private equity fund controlled by Actis of the United Kingdom), and totaling US$17.1 million, will cover 90 percent of the equity and quasi-equity/shareholder loan investments in the Project against the risks of Breach of Contract, Expropriation, Transfer Restriction & Currency Inconvertibility, and War & Civil Disturbance for a period of up to 15 years.

The Project consists of two solar PV energy generating facilities with combined total installed capacity of 132 megawatts (MW) located in the Northern Cape Province of South Africa. The solar plants will be approximately 60 kilometers apart, within the Khai-Ma Local Municipality of the Namakwa District Municipality. Aggeneys will build its own substation while Konkoonsies II will be connected to the existing Paulputs substation near Pofadder via a 600-meter 132 kilovolt transmission line. The Project was awarded through Round 4 of the South African Renewable Energy Independent Power Producers Procurement Program ( REIPPP). Once operational, the electricity generated from the plants will be sold to Eskom Holdings SOC Ltd, the state-owned public utility in South Africa, under 20-year Power Purchase Agreements (PPAs).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Actis Energy 4 LP Parent Company -
- - - - Eskom Holdings SOC Ltd Buyer -

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.

*Contact information not provided at the time of disclosure*


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 You can learn more about the CAO and how to file a complaint at

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How it works