Original disclosure @ MIGA website
Updated in EWS Dec 31, 2022
Disclosed by Bank May 26, 2020
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According to the Bank’s website, MIGA issued guarantees totaling $4.5 million to GreenYellow S.A.S. of France to cover its equity and quasi-equity investments in Societe de Production d'Energie Solaire de Ouagadougou SAS of Burkina Faso. The guarantees have a term of up to 20 years, providing coverage against the risk of transfer restriction and war and civil disturbance. On June 30, 2022, the guarantees were extended to include coverage against the risk of expropriation and breach of contract.
The project entails construction, ownership, operation and maintenance of a 30 MWp solar PV plant and interconnection facilities. The Project is located in the municipality of Nagreongo, in the province of Oubritenga in the Plateau-Central region of Burkina Faso. The electricity output will be sold to Societe Nationale d'Electricite du Burkina Faso ("SONABEL"), the state-owned utility under a 25-year Power Purchase Agreement. A Public Private Partnership agreement has also been signed with the Government of Burkina Faso for a tenor of 25 years.
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International Finance Corporation
2121 Pennsylvania Avenue NW
Washington, DC 20433 USA
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Fax: 1 202 522 7400
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ACCOUNTABILITY MECHANISM OF IFC/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