JCM GREENQUEST SOLAR CORPORATION
Status: Completed investmentWhy disclosure?
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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
JCM Greenquest Solar Corporation SA (JGSC) is developing a 72 MWp solar power plant in Cameroon. JGSC is 100% owned by the JCM International Solar Development Fund V, a Canadian investment fund of $5.4 mln that will develop 6 to 8 projects in Africa, South America and Mexico.
What is our funding objective?
FMO is providing a convertible grant of US$995,461 through the Access to Energy Fund ,representing approximately 35% of the total budgeted project development costs (US$2.8 mln). Total project costs are around US$170 mln. FMO's grant will cover development costs to help bring the project to financial close.
Why do we fund this investment?
Cameroon's economic growth has been constrained by the country's inefficient and insufficient power infrastructure. Economic and population growth are further increasing demand for reliable energy. Although solar PV is a proven technology and widely used, this sector is still in its infancy in Sub-Sahara Africa. By providing development equity FMO adds significant value to this project.
- Website customer/investment
- http://www.jcmcapital.ca
- Region
- Africa
- Country
- Cameroon
- Sector
- Energy
- Effective date
- 9/18/2014
- End date
- 2/11/2022
- Total FMO financing
- USD 1.00 MLN
- Funding
- AEF-I
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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+