SELENKEI INVESTMENTS LIMITEDStatus: Approved investment
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Who is our customer
Selenkei Investment Ltd is a special purpose vehicle incorporated in Kenya to develop, construct and operate a PV solar power plant.
What is our funding objective?
FMO’s funding will be used to construct a 40 MW PV solar power plant. The project site is located close to the city of Eldoret in Western Kenya.
Why do we fund this investment?
West Kenya is in need of additional power complementing the existing hydroelectric power plant in the region. The project will supply renewable energy to the national grid. Long term debt financing is not readily available in Kenya. The project sponsors have successfully developed other renewable projects in East Africa.
What is the Environmental and Social categorization rationale?
This project has a low environmental and social risk with main impacts deriving from the construction activities of setting up a PV plant and are confined to general waste management, worker occupational health and safety, traffic management, stakeholder engagement focused on community expectations and grievance mechanism (i.e PS 1 to 4). FMO’s Due Diligence (including the assessment of our independent Environmental and Social consultant) has confirmed the above and has confirmed that PS5 (Resettlement), PS6 (Biodiversity), PS7 (Indigenous people) and PS8 (Cultural and/or sacred sites) are not applicable. The E&S category is B+.
- Publication date
- Effective date
- Total FMO financing
- USD 14.67 MLN
- 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)