Zina Solaire S.A. (MIGA-3513)

Countries
  • Burkina Faso
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
Proposed
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
Dec 15, 2016
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
Windiga Energy Inc.
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 Amount (USD)
$ 9.80 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 Sep 23, 2017

Disclosed by Bank Sep 26, 2016


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Project Description
This summary covers a shareholder loan by Windiga Energy Inc. of Canada into Zina Solaire S.A. of Burkina Faso. The investor has applied for a MIGA guarantee of €8.7 million ($9.8 million) to cover principal and interest for a period of up to 8 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract. The project consists of the development, financing, construction, operation and maintenance of a greenfield 26.8 MW solar photovoltaic plant in the Mouhoun region, in the South-West of Burkina Faso, 180 km west of Ouagadougou. The electricity generated from the project will be sold to Sonabel, the state-owned power utility, under a 25-year Power Purchase Agreement. The project will be connected to the national grid via a 7.8 kilometer transmission line. The 70 ha concession for the plant and 11 ha for the transmission line were granted by the Government of Burkina Faso under a 99-year lease agreement.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information
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/