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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
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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
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10/01/2021

Approval date

10/01/2021

Signed date

12/22/2022

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

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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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

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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Learn more about how we provide private-sector solutions in the region .