SIMA Off-Grid Solar and Financial Access Senior Debt Fund 1 B.V. (DFC-SIMAOFFGRIDSOL)

Countries
  • Burkina Faso
  • Cambodia
  • Ghana
  • India
  • Ivory Coast
  • Kenya
  • Nigeria
  • Pakistan
  • Rwanda
  • Senegal
  • Tanzania
  • Uganda
  • Zambia
  • Zimbabwe
Geographic location where the impacts of the investment may be experienced.
Bank Risk Rating
C
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."
Borrower
SIMA Off-Grid Solar and Financial Access Senior Debt Fund 1 B.V., a Netherlands Beslooten Venootscha
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.
Primary Source

Original disclosure @ DFC website

Updated in EWS Sep 4, 2019

Disclosed by Bank Feb 22, 2019


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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, energy and financial access represent two significant but underdeveloped markets that continue to hold back low-income households from improving their economic and health status. Over 1.2 billion people lack electricity in Sub-Saharan Africa and Asia and instead rely on kerosene as a primary source of lighting and energy. Off-grid solar product offerings are a promising alternative to kerosene, as they are cleaner, safer, brighter, more reliable, and ultimately cheaper. However, the off-grid solar industry lacks access to sector-specific financing to support its growth, which is a key impediment to reaching scale in the developing world. In response to this need, SIMA has launched the Fund, which provides financing for the provision of clean energy and financial inclusion products to low-income customers in Sub-Saharan Africa and South Asia. OPIC will participate as an anchor investor to the Fund. SIMA estimates that the Fund will provide 1.25 million individuals with access to off-grid solar energy while eliminating 4.6 million tons of CO2 emissions. 

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

Proposed OPIC Loans: $15,000,000 Super Senior Loan and $5,000,000 Senior Loan, both maturing on October 9, 2021 


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 contact information provided at the time of disclosure. 

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How it works