PROJECT

Projects

Summary of InfraVentures Project

Project Number

39258

Sponsor

Norfund (514894) and YSI (798404)

Date SIVP Disclosed

Jun 6, 2018

Country

Myanmar

Region

East Asia and the Pacific

Last Updated Date

Sep 30, 2022

Industry

Infrastructure

Sector

Rural Electrification

Department

CN4AV - Regional Industry - INF Asia & Pac/InfraVentures-CEA

Project Description

IFC will provide investment in the form of (i) $7 million of equity through its InfraVentures facility and (ii) a $6 million concessional loan in its capacity as implementing entity of the Canada Climate Change Program to the project company, Yoma Micro Power Pte. Ltd., to support the construction and operation of distributed generation (DG) units, with an expected total power rating of 4MW, throughout various locations in Myanmar. The solar-hybrid DG units will provide electricity to telecommunication towers and rural communities which do not have a connection to the main grid. Setting up DG units will involve engaging local communities, landusers, and land-owners, to lease their land on a long term basis.

E & S Information

Key identified E&S impacts and risks of the project, which are site specific, can be addressed through effective mitigation efforts, relating to:
(i) a robust E&S management system at the project company;
(ii) pre-established process of leasing land from local communities based on good faith negotiations;
(iii) development of occupational health and safety protocols to manage risks during construction and operation;
(iv) proactive stakeholder engagement with effective grievance mechanisms in place.
IFC’s due diligence indicates that the company has assigned experienced personnel to manage these aspects and has put in place appropriate procedures to manage the land leasing process and stakeholder engagement. The company will also develop a formal stakeholder engagement plan including grievance redress mechanisms.