Segou Solaire (IFC-35853)

Countries
  • Mali
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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.
Borrower
SEGOU SOLAIRE SA
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)
$ 56.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 50.2 million Euros
Converted using 2017-06-12 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 11, 2017

Disclosed by Bank Sep 23, 2016


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Project Description
The proposed investment is an IFC financing package to Segou Solaire of (i) an IFC A loan of up to EUR [8.2] million, (ii) an IFC equity investment of EUR [2.5 to 4.1] million for an equity stake of [20 to 32.5]% in the project company, and (iii) mobilization of parallel loans of up to EUR [31] million, to finance a 33 MW solar power plant in Segou, Mali (the "Project"). The estimated total project cost is EUR [50.2] million. The Project consists in the construction of a greenfield 33MW solar photovoltaic plant in Segou, located 236 km North-East of Bamako. The planned solar power plant is located on land already allocated to the sponsor by the Energy Ministry (Segou Land Certificate no 8111), at Pelengana Were, in the commune of Pelengana in the Segou vicinity. The power plant site can be accessed via the paved RN6 Bamako-Segou-Pelengana road. The project is the result of a partnership between Scatec Solar (main sponsor), IFC InfraVentures and Africa Power 1. The project will be arranged by IFC and co-financed by IFC, the African Development Bank and the Climate Investment Fund.The solar power plant will contain approximately 104,764 solar panels on steel piles and around 10 uninterrupted power supply transformer containers on a single plot of land with a surface area of 87 hectares, 50 of which will be used for the 33 MW project. The photovoltaic power plant itself will occupy 47 ha. The rest will constitute a logistics area of around 2.6 ha. The access road will be built to a length of 1.9 km, and an underground transmission line will extend for 2.8 km. At the time of the site visit, construction had not yet started. The construction phase is expected to take about eight months. The site is located in modified habitat with no significant biodiversity value, and land use is mostly agricultural. The road accessing the site crosses the following communities: Pelengana Were and Bougouni (about 9,300 people in total). Scatec Solar will not provide accommodations for workers as they will lodge in the surrounding communities.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Contact Person: Mr Ibrahim Togola Company Name: c/o Scatec Solar WA Address: Banankabougou Sema, Logement BH/13, BP E 3550 Bamako Email: ibrahim.togola@gmail.com Phone: +223 66 74 26 09 ACCOUNTABILITY MECHANISM OF IFC 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/