Azito Energie SA (MIGA-14340)

Countries
  • Ivory Coast
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
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 22, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Globeleq Holdings (Cote d'Ivoire) B.V
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 225.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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 Apr 24, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

The project involves the existing Azito Thermal Power Plant (Phases I and II), its conversion from simple-cycle to combined-cycle (Phase III), and its expansion (Phase IV). The Phase III conversion included the addition of a steam turbine generator and heat recovery systems, as well as the facilities and equipment required to connect the generator to the plant's 225 kV substation. With Phase III, the project added approximately 140 megawatts (MW) of installed capacity to the grid without requiring any additional gas supply. The Phase IV expansion will include the addition of a gas turbine and a steam turbine with air-cooled condenser along with a new substation to allow connection at either 225kv or 400 kv. The Phase IV will add 253 MW of capacity to the existing plant for a total plant installed capacity of approximately 680 MW (710 MW after the completion in 2019 of the upgrade of the existing phase I and II gas turbines to MXL2 blading). The project includes the upgrade of the existing 225kV substation as well as a new 400kV substation, to make sure the power generated from the full CC plant can be evacuated at either 225 kV or 400kV voltage level.

 

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information

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/