Project detail - CORIA PKF INVESTMENTS 28 (PTY)LTD

CORIA PKF INVESTMENTS 28 (PTY)LTD

Status: Approved investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Coria Investments 28 is a project company established with the purpose of developing, constructing and operating a 73.8MW wind farm situated in Karoo, South Africa. The shareholders are Gestamp Eolica SL, Mindsearch Trade (Pty) Ltd and South Africa Renewable Green Energy (Pty) Ltd.

What is our funding objective?

FMO's financing will fund part of the cost of the construction of the wind farm. The project is jointly funded by other financial institutions, one of whom is FMO's partner, Standard Bank.

Why do we fund this investment?

The project is part of South Africa's Renewable Energy Independent Power Producer Procurement Programme, a scheme aimed at reducing the country's reliance on thermal energy. By funding the proposed projects, FMO supports greater private sector involvement and the growth of renewable energy production in a well regulated energy market, the largest on the African continent, which itself is amongst the largest greenhouse gas emitters in the world.

Region
Africa
Country
South Africa
Sector
Energy
Effective date
7/24/2013
Total FMO financing
ZAR 150.00 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B+