Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Burkina Faso
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Pending
Bank Risk Rating: B
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 or Client: ZINA SOLAIRE SA
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): $ 13.70 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 Euros 12 million
Converted using 2017-06-30 exchange rate.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-09-23
Disclosure Date: 2016-09-20
Windiga BF
IFC-36857

Project Description
The project consists of the development, financing, construction, operation and maintenance of a greenfield 26.8 MW solar photovoltaic plant in the Mouhoun region, in the South-West of Burkina Faso, 180 km west of Ouagadougou. The electricity generated from the project will be sold to Sonabel, the state-owned power utility, under a 25-year Power Purchase Agreement ("PPA"). The project will be connected to the national grid via a 7.8 kilometer transmission line. The 70 ha concession for the plant and 11 ha for the transmission line were granted by the Government of Burkina Faso (GoBF) under a 99-year lease agreement.The project Company is Zina Solaire S.A., a special purpose vehicle incorporated in Burkina Faso ("Zina Solaire" or the "Company"). The Company is 95.0% owned by Windiga Energy International Inc. (the "Sponsor") and 5.0% owned by the GoBF. The Sponsor is a Canada-based independent energy producer focusing on renewable energy assets in Africa.Bouygues Energies & Services ("Bouygues") was selected through a tender organized in 2015, to build, operate and maintain the project, although such selection remains to be formalized by the signing of an Engineering, Procurement and Construction contract (the "EPC Contract") and an Operations and Managements contract (the "O&M Contract"). The construction period is estimated to last 12 months.The proposed IFC investment includes an IFC A loan of up to EUR 12 million and risk management products (interest and cross currency swaps). In addition, IFC intends to mobilize the remaining balance of the debt required for the project, including a senior concessional loan of up to EUR 10 million from IFC as implementing entity of the IFC-Canada Climate Change Program ("IFC-CCCP"). This investment will support the first independent power producer project in Burkina Faso, a country mainly dependent on oil-fired thermal generation and electricity imports.The nearest settlement to the site is Zina (about 1.5 km). Habitat is modified and land use is mostly agricultural. The road accessing the site crosses the following communities: Dangouna, Wona, Somona, and Zina (about 4,000 people in total). Zina Solaire intends to provide workers accommodations at a nearby mining site for about 10 workers. Bouygues will build additional temporary worker accommodations on site for about 100 people for the construction phase.
Investment Description
Contact Information
Contact Person: Assane Yameogo Company Name: Windiga Energie Burkina S.A Address: Secteur 13, Av Babanguida, Rue Benda, porte 211, 01 BP 390 Ouagadougou 01, Burkina Faso Email: mailto:assane.yameogo@windiga-energy.com Phone: +22670454985, +22650369532 Facsimile:+22650362683 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/
Bank Documents