Facilitating New Low-Cost Supply Activity Sample Clauses

Facilitating New Low-Cost Supply Activity. This Activity aims to increase the supply of lower-cost electricity by facilitating new solar IPP transactions. Building on the Support for the Development of Independent Power Producer Projects Activity, this Activity shall provide support for up to two solar IPPs, including transaction advisory services to prepare all applicable feasibility studies, structure the tender program, and bring transactions to financial close; provided that the final configuration (e.g., sizing, location, etc.) of the solar IPPs to be supported under this Activity shall be determined based on detailed technical studies and shall be consistent with the Government’s pending, updated master plan for the electricity sector. The transaction advisor shall work closely with the newly established IPP unit to execute these transactions. This Activity shall include the option for catalytic funding for credit enhancements through guarantees (or equivalent insurance products) to address concerns about SONABEL’s credit worthiness. It shall also include the option to provide viability gap funding to facilitate the incorporation of battery storage into new solar IPPs. With respect to the transaction advisory services, catalytic funding for credit enhancements, and/or viability gap funding envisioned as part of this Activity, MCC and the Government agree that such support and services shall only be available for IPP transactions resulting from open and competitive tendering processes based on sound technical and feasibility assessments (each case, as determined by MCC in its sole discretion), and which are otherwise consistent with the Government’s applicable master plan(s) for the electricity sector. The Government further agrees to incorporate MCC’s IPP tender program into its plans for the sector and allocate necessary land in accordance with the International Finance Corporation (“IFC”) Performance Standards.
Sample 1
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