Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Angola
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Multilateral Investment Guarantee Agency (MIGA)
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2013-05-21
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: HSBC Bank Plc.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
  • Hydropower
Potential Rights Impacts:
Only for projects receiving a detailed analysis, a broad category of human and environmental rights and frequently at-risk populations.
  • Healthy Environment
  • Housing & Property
  • Labor & Livelihood
  • Right to Water
Investment Amount (USD): $ 605.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Share This Page

 

Contact Us

Do you have more information on
this project, or want to get involved?
Contact EWS

Primary Source

Original disclosure @ MIGA website
Updated in EWS: 2017-06-22
Disclosure Date: 2013-03-19
Cambambe Hydroelectric Project-Phase II
MIGA-12201

Project Description
This summary covers financing by HSBC Bank Plc. and other international lenders to be identified to the Ministry of Finance of Angola for the expansion of the Cambambe hydroelectric power station. The lenders have applied for MIGA guarantees of up to €470 million ($605 million equivalent) covering their non-shareholder loans including interest. The coverage is for a period of up to 15 years against the risk of non-honoring of sovereign financial obligations. The project involves the construction of a second powerhouse with four additional turbine generators with a total additional capacity of 700 megawatts on the basis of an engineering, procurement, and construction contract awarded to Odebrecht SA of Brazil. The Cambambe plant is one of two hydroelectric power stations currently in operation on the Kwanza River. The project is part of a larger rehabilitation and expansion program being undertaken by the government of Angola, under which the country's generation capacity is set to increase from around 1,500 megawatts to over 5,000 megawatts.
Investment Description
Contact Information
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/