PENDING CONTRACTING: the investment proposal has received final approval and now is entering into the contracting phase. The information as disclosed is thus indicative and provides a basis for general informational purposes only. It should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing, prior to final decision. This proposed investment is online for 30 days. In case of questions, please contact us at firstname.lastname@example.org
Investment name: Hiowe IPP
Publication date: 23 July 2021
Sector: Solar PV
Total ElectriFI Financing: USD 5.2m (EUR 4.42m)
Environmental and Social Category: B+
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
The Hiowe Mahe-Shia project (Hiowe) envisions to construct and operate a 20 MW grid-connected photovoltaic (PV) project at Hiowe Mahe-Shia part of the Greater Accra Region in Ghana
ElectriFI debt will co-finance the construction of the Hiowe project.
Why ElectriFI wants to fund this project:
Hiowe will bring additional PV generation capacity to Ghana, supporting its renewable energy target and diversifying its fuel mix.
Environmental and Social Rationale:
The main E&S impacts and risks relate mainly to labour conditions and safety during construction. The transaction will be managed in accordance with IFC Performance Standard 1,2,3, 4, 5 and 6. Performance Standard 7 is not triggered because there are no impacts on indigenous peoples. Performance Standard 8 is not triggered beyond the standard chance find procedure requirement. The current ESIA is being updated in accordance with IFC Performance Standards. Detailed environmental and social development plans are being developed and additional EHS management staffing will be mobilised.