MMEPL International PTE LTD

MMEPL International PTE LTD


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

Investment name: MMEPL International PTE LTD

Publication date: 25 March 2021

Region: Asia

Country: Sri Lanka

Sector: Solar PV


Total ElectriFI Financing: (+ equivalent in Eur) USD 3.5m (EUR 2.94m)

Environmental and Social Category: B+

(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

Project overview:

The senior debt will finance the construction of a 8 MW ground-mounted solar PV plant in Valaichchenai, on the east coast of Sri Lanka. The project will bring additional renewable energy capacity to Sri Lanka, that is currently still heavily dependent on imported fuels.

Funding objective:

The objective is to finance the construction of an 8 MW solar power plant that will be generating annual electric output of 14,980MWh. It is expected that 23,800 persons will benefit of an improved access to electricity. GhG emissions avoided are 5,033 CO2 eq/year.

Why ElectriFI wants to fund this project:

In a country where local debt is constrained, ElectriFI can fill the gap to finance this project that will contribute to the ambitious target of Sri Lanka to reduce dependence on fossil fuels and generate 70% of electricity with renewable energy by 2030.

Environmental and Social Rationale:

The E&S risk category  of the transaction has been classified as B+.

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  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 has been updated in accordance with IFC Performance Standards. Detailed environmental and social development plans are being developed and additional EHS management staffing will be mobilized.

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