Early Warning System

Countries

Albania
Bahamas
Brazil
Burkina Faso
Cambodia
Cameroon
Chile
Congo, Democratic Republic of
Costa Rica
Dominica
Dominican Republic
Ecuador
El Salvador
Fiji
Gabon
Guatemala
Guinea
Haiti
Honduras
Indonesia
Ivory Coast
Jamaica
Jordan
Kenya
Lebanon
Mali
Mauritania
Mexico
Montenegro
Morocco
Mozambique
Myanmar
Nigeria
North Macedonia
Panama
Rwanda
Senegal
South Africa
Togo
Tunisia
Uganda
Uruguay

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

Green Climate Fund (GCF)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

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

Nov 12, 2020

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

Pegasus Capital Advisors LP

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Climate and Environment
Construction
Energy
Finance
Infrastructure
Water and Sanitation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Equity

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 150.00 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)

$ 750.00 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.

Primary Source

Original disclosure @ GCF website

Updated in EWS Apr 21, 2021

Disclosed by Bank Apr 28, 2020

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Can you contribute information about this project?
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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 implementing agencies, the project seeks to unlock capital from private investors for investments in climate-resilient infrastructure projects from sub-national actors around the world. Technical assistance will be provided so that these projects have access to credit. The support will be for infrastructure projects between $ 5 and $ 75 million USD that are medium, low carbon and climate resilient, in developing and less developed countries.

The topics in which the SnCF will invest are: waste optimization, renewable energy, energy efficient lighting and water and sanitation projects.

The SnCF seeks the reduction of GHGs; protection of biodiversity and natural resources; respect for indigenous peoples and cultural heritage; incorporation of the gender perspective; good labor standards and working conditions; community health and safety; pollution prevention; and avoid involuntary resettlement or loss of livelihoods.

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.

Pegasus Capital Advisors (PCA)