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.
No contact information provided at the time of disclosure
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