Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Namibia
Location: Omaheke region
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.
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: B
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: 2017-05-19
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: Investec Bank Limited and CIGENCO SA (Pty) Limited
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 Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 35.00 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: 2017-09-23
Disclosure Date: 2017-04-19
Ejuva One and Ejuva Two Solar Energy Projects
MIGA-3548

Project Description
The proposed Projects entail the construction, ownership, operation and maintenance of two solar energy generating facilities, with a capacity of 5MW each, in the Omaheke region in Namibia. The electricity output will be sold to the Namibia Power Corporation (Pty) Ltd under a 25-year Power Purchase Agreement. Both Projects were awarded through the Renewable Feed in Tariff Program. The expected development impact from the Projects include: (i) diversification of Namibia's energy mix; (ii) contribution to increased generation capacity in Namibia; (iii) reduction of carbon emissions by producing green, emission-free electricity; (iv) promotion of employment and skills development during construction and operation and; (v) providing positive demonstration effects for solar development in Namibia and neighboring countries. The proposed project is aligned with MIGA's priorities of facilitating investments that address climate change.
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