Where the impacts of the investment may be experienced.
Location: China, Turkey, Pakistan and Thailand
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.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
- International Finance Corporation (IFC)
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: 2017-02-15
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: CHINT SOLAR (HONG KONG) LIMITED
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD): $ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
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Chint New Energy
The proposed investment is a corporate loan of up to US$ 150million, including an A loan of up to US$ 50million and a B loan of up to US$ 100 million to support the operational expansion of Chint New Energy Development (Zhejiang) Co. Ltd. ("CNE" or the "company") in developing solar power generation projects in emerging markets outside of China. The company is a China-based integrated solar system solution provider, engaged in solar photovoltaic (PV) manufacturing and solar power generation. In the past, the company developed in China about 1.9GW solar power assets with 37 operating ground-mounted sites, mostly in rural remote locations. The company also builds, owns, and operates roof top assets at urban locations. The company's assets in China range in their capacity from 10MW to 200MW with an average of ~45MW. Most of assets are located within solar power generation industrial parks developed by the local Governments, while others are located in remote locations such as Gobi desert with sparse human settlements. The company also operates a solar PV manufacturing plant in Hangzhou. Outside of China, the company developed and is operating about 100MW solar power assets in Japan, South Korea, Bulgaria, Romania, and Spain. It also has a pipeline of potential solar projects of about 360MW.
The potential projects are located in Turkey, Pakistan, and Thailand. Solar PV projects developed outside of China are typically small, i.e. in the 1 - 15 MW capacity range. The proceeds from the proposed IFC loan will finance the company's new solar generation projects in emerging markets outside of China. IFC's funds will not be used for solar projects in China or PV panel manufacturing projects. The company is currently in the early stages of consideration of several potential overseas acquisitions and will ensure, in accordance with the ESAP, that site selection and asset development will be undertaken in accordance with IFC Performance Standards and the company's corporate ESMS will be applied to each new project. A project specific Environmental and Social Management System (ESMS) will be established for each new project with significant impacts.
- International Finance Corporation (IFC)
ACCOUNTABILITY MECHANISM OF IFC
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/