Risen Solar

Location:

Kazakhstan

Project number:

50002

Business sector:

Energy

Notice type:

Private

Environmental category:

B

Approval date:

29 May 2018

Status:

Repaying

PSD disclosed:

03 Sep 2020

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The provision a senior long-term debt financing of up to US$ 22 million equivalent in KZT to KPM-Delta LLP for the development, construction and operation of a solar photovoltaic power plant with an installed capacity of 40 MWp located in the Karaganda region of Kazakhstan.

Project Objectives

The project will support Kazakhstan in diversifying its coal dependent power sector and contribute to achieving the Kazakh government goal of non-hydro renewable energy accounting for 3 per cent of all power generation by 2020.

Transition Impact

ETI score: 80

The project increases renewable energy share in the Kazakhstan's currently coal-dominated energy mix. Transition impact also stems from reduction of CO2 emissions. In addition to environmental impacts, the project also fosters private ownership of renewable projects in the generation sector.

Client Information

KPM-DELTA LLP

KPM-Delta LLP is a Special Purpose Vehicle ("SPV") established for the development, construction and operation of the solar photovoltaic power plant with capacity of 40 MWp. The SPV is fully owned by Risen Energy of China.

EBRD Finance Summary

USD 22,000,000.00

Total Project Cost

USD 39,770,000.00

Environmental and Social Summary

Category B (ESP 2014). Environmental and social issues associated with the project are site specific and can be readily assessed and mitigated based on an Environmental and Social Due Diligence (ESDD).

An independent consultant was retained to undertaken the ESDD and verify the site sensitivity in terms of land use and environmental context. The ESDD reviewed the permitting process for the solar plant as well as the associated infrastructure.  The ESDD confirmed that the site is not located in a  sensitive area and the Project is structured to comply with the Bank's PRs and the investor has the institutional capacity to fully implement the Bank's RPs. Based on the ESDD a SEP, NTS and ESAP have been agreed with the client. The Non Technical Summary (NTS) of the Project is attached below.

The Bank monitoring the implementation of the Project.

 

Technical Cooperation and Grant Financing

TC funding was sought to co-finance due diligence costs subject to availability under the existing Kazakhstan Renewables Framework in accordance with the Framework's criteria.

Company Contact Information

Saule Duisenova
saule.duisenova@risenenergy.com
7, Al-Farabi prospect, Nurly Tau Business Centre, Building 4A, 2nd floor, office 202A, Almaty, Kazakhstan

PSD last updated

03 Sep 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by emailmail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requesters’ identities may be kept confidential, upon request.

 

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