Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Cameroon
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)
Status: Proposed
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.
Borrower or Client: Globeleq Energy Holdings (Cameroon) B.V.
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
Investment Amount (USD): $ 50.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ MIGA website
Updated in EWS: 2017-11-30
Disclosure Date: 2015-05-06
Kribi Power Development Company S.A.
MIGA-12836

Project Description
This summary covers an investment by Globeleq Energy Holdings (Cameroon) B.V. of the Netherlands in Kribi Power Development Company S.A. in Cameroon. The investor has applied for a MIGA guarantee of €46.8 million ($50.4 million equivalent) for a period of up to 20 years against the risk of breach of contract. The project involves the expansion of the existing Kribi power plant. Kribi Power Development Company will add a further 125 megawatts gross power generation capacity through the installation of seven natural gas-fired reciprocating engines. The project will increase a total net power generation capacity of the Kribi power complex to 330 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/
Bank Documents