CEDATE LIMITED
Status: Approved investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
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
Cedate 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+.
More investments
| Date | Total FMO financing |
|---|---|
| 7/14/2022 | EUR 0.07 MLN |
- Region
- Africa
- Country
- Kenya
- Sector
- Energy
- Publication date
- 5/24/2017
- Effective date
- 9/14/2018
- Total FMO financing
- USD 14.67 MLN
- Funding
- 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) - B+