Early Warning System

Regions

Africa

Geographic location where the impacts of the investment may be experienced.

Countries

Burkina Faso

Geographic location where the impacts of the investment may be experienced.

Specific Location

Bobo-Dioulasso, Matourkou, Logofourousso, Kuinima

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

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

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

Aug 6, 2024

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

Africa REN Development Company

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Technical Cooperation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Advisory Services

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 0.11 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 0.10 MLN
Converted using 2024-08-06 exchange rate.

Media Documents

Other Related Projects

Primary Source

Original disclosure @ FMO website

Updated in EWS Oct 1, 2024

Disclosed by Bank Aug 21, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

As stated by the FMO, the objective of this project is to undertake technical design studies and the ESIA as part of the project preparatory work for Kodeni Solar Expansion project, key to structure the project.

Building on the existing Kodeni 1 project, the Kodeni Solar Expansion will allow Burkina Faso to further reduce its dependency on fossil fuels and electricity imports.

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 risk as B+.

Investment Description

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

Netherlands Development Finance Company (FMO)

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, the contracting party for this TA project is Africa REN Development ("DevCo"). DevCo is a developer of clean and sustainable infrastructures in West Africa and will typically cover all development costs until a project has reached financial close, at which point, Africa REN Energy ("AssetCo") may purchase the developed asset for construction and operation. AssetCo has the right (not the obligation) to purchase solar and other renewable assets developed by DevCo). Ultimate goal is to build a 250MW portfolio of renewable assets by 2026. AssetCo has been operating in the region since 2015 and it has developed and manages the i) 25 MW Senergy 2 solar power plant in Senegal, the ii) the WALO storage project and iii) Kodeni Solar, a 38MW solar power plant in Burkina Faso.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Aera Group SAS	Investor	Finance
-	-	-	-	Africa REN	Client	Energy
-	-	-	-	PROPARCO	Investor	Finance

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.

No project contacts provided at the time of disclosure.

Client - Africa REN Development Company:

Addresses -

FRANCE: 47 rue de Liège, 75008 Paris
SENEGAL: 2 rue de Fatick Point E, Dakar
BURKINA FASO: 5 rue de l’intégrité, Ouagadougou 01

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