Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Senegal
Location: Taiba N’Diaye, Senegal
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.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Multilateral Investment Guarantee Agency (MIGA)
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.
Board Decision Date: 2017-05-29
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Lekela Power Holdings (Senegal) Limited
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Amount (USD): $ 118.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ MIGA website
Updated in EWS: 2017-10-12
Disclosure Date: 2017-03-24
Parc Eolien Taiba N'Diaye SA
MIGA-3545

Project Description
This summary covers an application by Lekela Power Holdings (Senegal) Limited of the Republic of Mauritius (Lekela) for its equity and shareholder loan investments in the Parc Eolien Taiba N'Diaye SA wind farm project (the Project) in the Republic of Senegal. The investor seeks cover for up to €110 million (equivalent to US$118 million) against the risk of transfer restriction, expropriation, war and civil disturbance, and breach of contract for a tenor of up to 20 years. The Project involves the construction, operation, and maintenance of a 158.7 MW wind power farm in Taiba N'Diaye, Senegal, which is 75 km northeast of Dakar and 6 km east of the Atlantic Ocean. The electricity output will be sold to Société Nationale d'Électricité du Sénégal (Senelec) under a 20-year Power Purchase Agreement (PPA). Power will be transmitted via seven 33 kV lines which will connect to 33kV/225kV step-up transformers at the Tobene substation. The Tobene substation is situated less than one km east of the Project site and is owned, operated, and maintained by Senelec which is the sole offtaker of the electricity produced. A 225 kV transmission line runs from the Tobene substation into Dakar, the capital of Senegal. The electricity produced by the Project will be injected into the national grid and sold to Senegalese end-consumers by Senelec.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF 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/