Parc Eolien Taiba N'Diaye SA (MIGA-3545)

Countries
  • Senegal
Geographic location where the impacts of the investment may be experienced.
Specific Location
Taiba N’Diaye, Senegal
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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
May 29, 2017
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
Lekela Power Holdings (Senegal) Limited
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 Amount (USD)
$ 118.00 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.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Feb 26, 2019

Disclosed by Bank Mar 24, 2017

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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.

This summary covers an application by Lekela Power Holdings (Senegal) Limited of the Republic of Mauritius (Lekela) for its equity and shareholder loan investments in the Parc Eolien Taiba N'Diaye SA wind farm project (the Project) in the Republic of Senegal. The investor seeks cover for up to €110 million (equivalent to US$118 million) against the risk of transfer restriction, expropriation, war and civil disturbance, and breach of contract for a tenor of up to 20 years.

The Project involves the construction, operation, and maintenance of a 158.7 MW wind power farm in Taiba N'Diaye, Senegal, which is 75 km northeast of Dakar and 6 km east of the Atlantic Ocean. The electricity output will be sold to Société Nationale d'Électricité du Sénégal (Senelec) under a 20-year Power Purchase Agreement (PPA). Power will be transmitted via seven 33 kV lines which will connect to 33kV/225kV step-up transformers at the Tobene substation. The Tobene substation is situated less than one km east of the Project site and is owned, operated, and maintained by Senelec which is the sole offtaker of the electricity produced. A 225 kV transmission line runs from the Tobene substation into Dakar, the capital of Senegal. The electricity produced by the Project will be injected into the national grid and sold to Senegalese end-consumers by Senelec.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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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/

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