JCM Power is an entrepreneurial company founded by Canadians which has grown into a global team. It is in our DNA to act as a good partner and ensure long-term success for all our stakeholders. These include local communities and governments where our projects are situated, the international banks and investors who fund our projects, and the wide range of co-developers and service providers with whom we join forces.
FMO, the Dutch development bank, has committed to invest up to $25 million in convertible preferred shares of JCM. In addition, FMO is leading a debt syndicate for JCM’s Nigeria project. The syndicate includes Deutsche Investitions- und Entwicklungsgesellschaft (DEG), the German Investment and Development Corporation, a subsidiary of Kreditanstalt für Wiederaufbau (KfW), the German government development bank, Proparco, the private sector financing arm of Agence Francaise de Development, the French Development Agency and GuarantCo and Emerging Africa Infrastructure Fund, both PIDG group. FMO is a co-development partner in JCM’s Cameroon project.
Swedfund, the Swedish Development Finance Institution, is set to invest $15 million in convertible preferred shares of JCM Power. Swedfund provides risk capital, expertise and financial support for investments in local companies in developing markets. Swedfund’s mission is poverty reduction through sustainable business, contributing to economic and environmental development as well as a positive impact on society. The funds invested by Swedfund will allow JCM to drawdown equity for construction and development costs in future projects.
The infrastructure development entity established by PIDG to assume the risks and costs of early-stage project development in lower income countries in Africa. InfraCo Africa identifies investment opportunities and develops them to the stage where they can attract domestic and international finance (the ‘financial close’). Where appropriate, targeted subsidies are included in the design of projects where there are affordability concerns for the poor. InfraCo Africa receives funding via its shareholder, the PIDG Trust, from the governments of the UK (DFID), the Netherlands (DGIS), Switzerland (SECO) and Austria (ADA). JCM has secured co-development funding for its Malawi project through InfraCo. Additionally, JCM has received a commitment of $2.5 million from InfraCo to fund development projects.
OPIC, the US development bank, is providing debt financing for the 50MW Hawa wind project. In addition, OPIC is the lead arranger of project debt for the Salima solar photovoltaic project in Malawi. OPIC fulfils its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity investment fund managers.
As members of the World Bank group, the International Bank for Reconstruction and Development (IBRD) provides loans and other assistance to middle-income countries while the International Development Agency (IDA) aims to reduce poverty by providing concessional loans and grants to the world’s poorest countries. JCM works with the World Bank to secure Partial Risk Guarantees (PRG) for its projects.
A member of the World Bank Group, their mission is to promote economic growth, reduce poverty and improve lives through foreign direct investment into developing countries. JCM works with MIGA to obtain Political Risk Insurance (PRI) for its equity investment in individual projects.
The multilateral development finance institution established to contribute to the economic development and social progress of African countries. The AfDB is a financial provider to African governments and private companies investing in regional member countries. AfDB through the Sustainable Energy for Africa Fund (SEFA) has provided JCM with a grant for its Cameroon project.
The agency of the United Nations that coordinates environmental activities and assists developing countries in implementing environmentally sound policies and practices. UNEP in collaboration with the Frankfurt School of Finance & Management has awarded JCM a grant for $2.5 million through its Seed Capital Assistance Facility (SCAF) for project development and capacity building in Africa.
Created by the European Commission and European Union Member States, the EU-AITF is the first EU “blending instrument” created with the objective of promoting infrastructure projects in Sub-Saharan Africa with a regional impact. “Blending” means combining long-term investments from development finance institutions (loans, risk capital, etc) with grant monies to gain financial and qualitative leverage as well as project sustainability. Another objective of Blending is the promotion of cooperation and coordination between European and non-European aid actors. EU-AITF has awarded JCM a grant for the construction of the transmission line and interconnection works in Nigeria.
The Seed Capital Assistance Facility (SCAF) is an initiative implemented through the United Nations Environment Programme in cooperation with the Frankfurt School of Finance. JCM has secured a $2.5 million grant from this facility for the development of its African portfolio. The facility is aimed at helping energy investment funds provide financing to clean energy projects through local capacity development and training as well as direct investment into project development.
The multi-donor organization was established by Australia, Austria, Germany, Ireland, the Netherlands, Sweden, Switzerland, the United Kingdom and the World Bank to overcome market and institutional failures constraining private sector participation in infrastructure development in developing countries. TAF is a PIDG vehicle that provides grant funding for local capacity building in association with the PIDG companies and DevCo, a transaction advisory facility within the International Finance Corporation, supporting governments in least developed countries, other low income countries and lower middle income countries and territories in the preparation and structuring of infrastructure projects for private sector investment. JCM has secured funding from TAF for its Nigeria project
An entity created by the Private Infrastructure Development Group (PIDG) and funded by four of its members – the Department for International Development UK (DFID), the Swiss State Secretariat for Economic Affairs (SECO), the Swedish International Development Cooperation Agency (Sida) and the Ministry of Foreign Affairs of the Netherlands (DGIS). GuarantCo is a member of the lending syndicate in JCM’s Nigeria project and was the applying group for JCM’s EU-AITF grant in Nigeria as well as the TAF grant.
The JS Group is one of the leading family-based business conglomerates in Pakistan and owns a large portfolio of companies including the leading brokerage firm, a retail and commercial bank, the largest insurance company in the country, a textile manufacturer, a container terminal and the country’s second-largest airline. The JS Group is JCM’s partner in the Hawa wind project which is the first project in a planned partnership of more than 200+ MW of renewable power in Pakistan.