FCS RE CIPREL V (IFC-39096)

Countries
  • Ivory Coast
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
A
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
ATINKOU S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 135.70 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 EUR 120m
Converted using 2019-03-26 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 26, 2019

Disclosed by Bank Mar 13, 2019


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Project Description

The proposed CIPREL 5 Independent Power Project (“the project” or “the CIPREL 5 project”) is being developed by Atinkou S.A. (“Atinkou” or “the Company”), a Special Purpose Vehicle owned by Eranove, a leading industrial group that manages and provides technical oversight to its subsidiaries in Côte d'Ivoire and Senegal. The project consists in the construction and operation of a natural gas-fired power plant near Abidjan, Côte d’Ivoire. The Project is designed as a 390 MW combined cycle to be built on a new site located approximately 50 km west from Abidjan and will be constructed and operated under a 20-year Build-Own-Operate-Transfer (“BOOT”) concession agreement. The proposed IFC investment includes an IFC A loan and client risk management instruments (interest rate hedging) for an aggregate amount of up to EUR [120] million. In addition, IFC will be mobilizing the remaining balance of the required debt amount for the project.

 

 

Investment Description
  • International Finance Corporation (IFC)
Contact Information

No contact information provided at the time of disclosure

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/