Company name
2020 FMCG Inc.
Project number
13554-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Guyana
Sector
Energy
Status
In implementation
Disclosed date
08/27/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/01/2021
Approval date
10/01/2021
Signed date
12/22/2022
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 5,000,000
Currency
USD
Project scope and objective
The transaction is an uncommitted, secured revolving working capital facility to support 2020 FMCG Inc. and other borrowing entities (collectively, “the Borrowers”) who are to design, procure, construct, install, commission and turn-key deliver two non-grid tied solar photovoltaic (“PV”) power plants, battery energy storage systems and interconnection facilities (each, an “Installation”) in two remote areas in Guyana (“the Project”). The locations and systems will be in: (i) Bartica for a 1.5 Mega-Watt peak (“MWp”) solar PV array plus 0.83MW battery energy storage system (“BESS”); and (ii) Lethem for a 1MWp solar PV array plus 0.57 MW BESS. The Project will also finance a subsequent set of similar Installations in Guyana.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
SOVENTIX GUYANA INC. - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
293.8 Kb
SOVENTIX GUYANA INC. - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
139.7 Kb