Beliy Porog Hydro Powerplant Project (NDB-BELIYPOROGHYDRO)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Russia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Karelia
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
  • New Development Bank (NDB)
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
U
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
Jul 16, 2016
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
Eurasian Development Bank (EDB) and International Investment Bank (IIB)
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)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 100.00 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)
$ 100.00 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)
$ 161.90 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
Primary Source

Original disclosure @ NDB website

Updated in EWS Feb 18, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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 NDB will provide two loans to support Eurasian Development Bank (EDB) and International Investment Bank (IIB) to on-lend to renewable energy projects. The two loans will finance the Nord-Hydro project to increase energy supply in Karelia region through renewable energy resource. The project is supported by the Russian government with a preferential tariff. With this project, a small dam and two run-of-river hydroelectric power generation facilities will be constructed, providing a total installed capacity of 49.8 MW. A 220 kV power transmission line of 10-km will be constructed.

The Project would lead to: generation of clean energy in the remote and the energy-deficient areas and thereby improving reliable access to power for industrial and residential users; growth of share of renewable sources of energy (4,5% of the installed capacity in Karelia); avoidance of the greenhouse gas emissions to the tune of 48,000 tons of CO2 annually.

Installation and commissioning of additional total power generation capacity will reach 49.8 MW.

The Implementing Agency is Nord Hydro Beliy Porog JSC.

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.

There is no risk category assigned to this project, but the NDB stated that the proposed hydro power generation will avoid 48,800 tons of carbon dioxide emissions per year. To avoid the common issues with constructing hydro-electric power plants, the dam parameters for this project were designed to avoid resettlement and minimize impact on ecology. The Implementing Agency shall closely monitor implementation of proposed mitigation measures and the NDB shall conduct annual supervision.

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

The NDB stated that the total cost of the project is USD 161.9 million. The two NDB loans add up to USD 100 million. A loan of USD 50 million is provided to Eurasian Development Bank (EDB). The other loan of USD 50 million is provided to International Investment Bank (IIB).

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 DevEx, Nord Hydro JSC is a management hydro-generating company, established in 2007 in order to implement a project to develop and restore small hydro-generation facilities in the Russian Federation. In the period 2009-2020. JSC Nord Hydro implements, in accordance with the approved plan and investment projects, measures for the survey, design, reconstruction and construction of more than 100 hydraulic structures with a total capacity of about 250 MW. The company currently owns 37 SHPP facilities planned for reconstruction, including 5 existing facilities with an installed capacity of 9.4 MW. In 2009, an operating unit was established in the company’s structure to service and maintain the current state of purchased and rented hydro generation facilities, as well as a customer service,

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Nord Hydro JSC Client Hydropower

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.

NDB Team Leader:

Valkova Anna - Eurasian Regional Center

Borrowers -

International Investment Bank: mail@iibbank.com
Eurasian Development Bank: info@eabr.org

Implementing Agency - Nord Hydro Bely Porog JSC:

Email: info@ngbp.ru
Website: http://nord-hydro.ru/

ACCESS TO INFORMATION

You can submit an information request for project information though a form at the bottom of the following webpoage https://www.ndb.int/about-us/contact-us/. Alternatively, you can send an e-mail to info@ndb.int. 

ACCOUNTABILITY MECHANISM OF NEW DEVELOPMENT BANK

The New Development Bank (NDB) does not currently have an independent accountability mechanism to accept complaints related to NDB-financed projects. The Bank does have a whistleblower mechanism that receives complaints about misconduct related to corruption, fraudulent practices and instances of money laundering in projects financed by the NDB and/or against the NDB staff members. To learn more about the whistleblower mechanism and how to file a complaint, access this webpage at: https://www.ndb.int/about-us/whistleblowing/.

How it works

How it works