Scaling Solar Senegal (MIGA-14283,14284)

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
B
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
Apr 4, 2019
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
ENGIE Global Developments B.V.
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)
$ 7.60 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 Feb 28, 2019

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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 July 19, 2019, MIGA issued guarantees of up to EUR6.9 million (US$7.6 million equiv.) covering equity and shareholder loan investments by Engie Global Developments B.V. of the Netherlands ("Engie"), Meridiam Infrastructure Africa Fund FIPS and Meridiam Infrastructure Africa Parallel Fund FIPS, both of France (together, "Meridiam"), in the Kahone Solaire SA and Kael Solaire SA solar plants in Senegal ("the project"). The guarantees have been issued for up to 15 years against the risks of war and civil disturbance, and breach of contract.

The project consists of the financing, design, construction, commissioning, operation and maintenance of two PV solar power plants with a total capacity of 79MWp (60MWac), including associated transmission facilities, to be located in the western part of Senegal. The Kael plant will be built 190km east of Dakar (close to the city of Touba) and have a total capacity of 35MWp (25MWac), while the Kahone plant will be situated 200km southeast of Dakar (close to the city of Kahone) and have a capacity of 44MWp (35MWac). The electricity output from the project will be sold to Societe Nationale d'Electricite du Senegal (Senelec), the national utility, under two distinct 25-year take-or-pay Power Purchase Agreements (PPAs). The plants will be connected to the national grid via a 300m underground transmission line (Kahone), and a 3km transmission line (Kael).

The project has been awarded to Meridiam and Engie through the Scaling Solar Program ("SSP") developed by the World Bank Group ("WBG") as a "one stop shop" program for governments to rapidly mobilize privately funded grid connected solar projects at competitive tariffs. This follows the first Scaling Solar auction in Zambia, which had delivered the lowest tariff in Sub-Saharan Africa, and aims at building on this success to further create viable markets for solar power on the continent.

 

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/

How it works

How it works