MADAGASCAR HYDRO HOLDCO LIMITED
Status: Approved 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
Madagascar Hydro Holdco (MHH) was established by FMO and Berkeley Energy (the fund manager of AREF) with the objective of investing in a portfolio of run-of-river hydroelectric projects in Madagascar. The mentioned projects are developed and operated by Tozzi Green Madagascar (the Platform Company).
What is our funding objective?
The objective is to strengthen the E&S capacity of the Platform Company, for the implementation of Environmental and Social Action Plan (ESAP) action items. ESAP implementation was among FMO’s credit conditions related to the transaction.
Why do we fund this investment?
The Platform Company has an E&S team in place which needs to strengthen capacity related to hydropower projects. The transaction has high-impact potential and it fits well in FMO’s strategy: (i) it is a 100% green transaction, (ii) it qualifies 100% as Reducing Inequalities, since Madagascar is a least developed country, (iii) as per PE EN’s strategy, it is a co-investment with a key account, Berkeley Energy, (iv) FMO will continue to add value on E&S.
More investments
| Date | Total FMO financing |
|---|---|
| 12/10/2019 | USD 7.28 MLN |
| 12/10/2019 | USD 10.92 MLN |
- Region
- Africa
- Country
- Madagascar
- Sector
- Energy
- Effective date
- 9/7/2020
- Total FMO financing
- EUR 0.04 MLN
- Funding
- Building Prospects
-
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) - A