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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