Project detail - CORIA PKF INVESTMENTS 28 (PTY)LTD

CORIA PKF INVESTMENTS 28 (PTY)LTD

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Who is our client

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.

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 we fund this project

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
Signing date
7/24/2013
Total FMO financing
ZAR 150.00 MLN
Fund
FMO
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+