Parc Eolien Taiba N'Diaye SA (MIGA-13563)

Countries
  • Senegal
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 29, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Lekela Power Holdings (Senegal) Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 149.80 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Apr 3, 2020

Disclosed by Bank Mar 24, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

PROJECT DESCRIPTION

On June 29, 2018, MIGA agreed to issue up to EUR128,127,736.98 (equivalent to US$149.80 million) in guarantees covering equity and quasi-equity investments by Lekela Power Holdings (Senegal) Limited of the Republic of Mauritius (Lekela) in the Parc Eolien Taiba N'Diaye SA wind farm project in the Republic of Senegal. The guarantees are issued for up to 20 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.

The Project involves the construction, operation, and maintenance of a 158.7 MW wind power farm in Taiba N'Diaye, Senegal, which is 75 km northeast of Dakar and 6 km east of the Atlantic Ocean. The electricity output will be sold to Societe Nationale d'Electricite du Senegal (Senelec) under a 20-year Power Purchase Agreement (PPA). Power will be transmitted via seven 33 kV lines which will connect to 33kV/225kV step-up transformers at the Tobene substation. The Tobene substation is situated less than one km east of the Project site and is owned, operated, and maintained by Senelec which is the sole offtaker of the electricity produced. A 225 kV transmission line runs from the Tobene substation into Dakar, the capital of Senegal. The electricity produced by the Project will be injected into the national grid and sold to Senegalese end-consumers by Senelec.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contact information provided at the time of disclosure

ACCOUNTABILITY MECHANISM OF MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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