AMEA Goutougo (FMO-64324)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Ivory Coast
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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
Dec 22, 2025
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
AMEA Power 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 Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.14 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 EUR 21.37 MLN
Converted using 2025-12-22 exchange rate.
Loan Amount (USD)
$ 25.14 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 EUR 21.37 MLN
Converted using 2025-12-22 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 1, 2026

Disclosed by Bank Dec 18, 2024

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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 information provided, FMO's senior loan of EUR 21.4 million catalyzes EUR 21.4 million from DEG and FMO's CRIAC Facility, both with a 20-year tenor. At the same time, FMO's CRIAC Facility of EUR 3.25 mobilizes a further EUR 3.25 million from DEG with a 10-year tenor. This financing allows for the development, construction, operation, and maintenance of a 50 MWp solar farm with a total project cost of EUR 54 million.

This project is a greenfield renewable energy development in a low-income sub-Saharan country and one of the first privately owned solar power project in Cote d'Ivoire. AMEA Goutougo will provide clean, reliable, and affordable electricity to a country working to expand its electricity generation and grid capacity, especially in the northern part of the country, where this project is located. Electricity generated by solar irradiation resources will have a lower price than the electricity currently generated by thermal power stations (natural gas and heavy fuel oil). FMO's tenor of up to 20 years is not available in Cote d'Ivoire's local commercial banking market and will allow the project to sell the electricity produced to the national utility company at an attractive tariff. The project has a 100% Green label, which aligns with FMO's Sustainability strategy and mandate.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The FMO categorized the project E&S risk as B+.

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 FMO, AMEA Goutougo S.A.S.U. is a single-purpose company incorporated in Ivory Coast that will develop, construct, own, operate, and maintain a 50 MWp solar power plant near Bondoukou, Côte d’Ivoire. AMEA Goutougo is owned by AMEA Power, a reputable energy and water project developer active in Asia, the Middle East, and Africa.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - AMEA Power Limited 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 - AMEA Power Limited:

Address: Marina Plaza Office Tower, Dubai, United Arab Emirates
Email: info@ameapower.com
Phone: +971 4 222 2499
Website: https://www.ameapower.com/ 

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works