CdB Gas Convers. (IFC-50638)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Senegal
Geographic location where the impacts of the investment may be experienced.
Specific Location
Rufisque, Dakar
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
  • 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Feb 6, 2026
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
ContourGlobal
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 46.75 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.
Currency conversion note:
Bank reported 40
Converted using 2026-01-06 exchange rate.
Loan Amount (USD)
$ 46.75 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.
Currency conversion note:
Bank reported 40
Converted using 2026-01-06 exchange rate.
Project Cost (USD)
$ 122.71 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.
Currency conversion note:
Bank reported 105
Converted using 2026-01-06 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 9, 2026

Disclosed by Bank Jan 6, 2026

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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.

According to the IFC, the proposed investment is a secured financing debt package to Cap des Biches (CdB or the Company) to: (i) finance the conversion capex of the plant from Heavy Fuel Oil (HFO) to Liquified Natural Gas (LNG) and (ii) refinance CdB’s outstanding debt (the “Project”).

Since 2016, Cap des Biches (CdB) operates an 86 MW Heavy Fuel Oil (HFO) Independent Power Producer (IPP) located in an industrial zone in Rufisque, Senegal. CdB is part of the ContourGlobal, a UK based power company. The current project consists of converting the plant's five engines from HFO to dual-fuel capability using LNG. This project is part of Senegal’s Gas-to-Power strategy. LNG will be supplied through the main pipeline connecting Dakar Port to the Cap des Biches area. The main pipeline, currently under construction by a private company, will deliver gas to various industries in that area. CdB is expected to use about 20% of the LNG supplied during the first year of the pipeline’s operation, decreasing to 10% as more industries in the region transition to LNG. A dedicated 300m pipeline will be built to connect the plant to the main LNG pipeline. This 300m pipeline is considered an associated facility and will be constructed on adjacent land owned by SENELEC, Senegal’s national utility authority. The engine conversion will primarily involve replacing parts within the existing equipment. The construction phase is expected to last approximately six months, starting in Q1 2026, and will be carried out by Wartsilla, the Engineering and Procurement Contractor (EPC) and engine manufacturer.

The plant is located in an industrial zone and there is a neighbouring gas power plant currently under commissioning and in vicinity of other industries. Electricity from the plant is transmitted through an existing overhead transmission line. The nearest community is located at about 500m from the CdB plant.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, ContourGlobal (CG or the Sponsor) was established in 2005 and acquired in 2022 by Kohlberg Kravis Roberts & Co. L.P. (KKR), a listed American global investment company, with an investment portfolio of approximately $710 billion of total enterprise value. CG is a global energy company managing ~130 thermal and renewable assets across 20 countries with 5.6 GW installed capacity across various technologies, including solar, wind, hydro, natural gas, liquid fuel, and coal

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
KKR & Co Inc Parent Company Finance owns ContourGlobal LP Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - ContourGlobal, Cap des Biches Senegal:

Papa Mamadou Diack - Plant manager
Email: papa.diack@contourglobal.com 

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/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

How it works

How it works