Africa REN Development.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
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.
What is our funding objective?
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.
Why do we fund this investment?
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.
More investments
| Date | Total FMO financing |
|---|---|
| 11/13/2024 | EUR 0.50 MLN |
| 7/12/2023 | EUR 0.50 MLN |
- Region
- Africa
- Country
- Africa
- Sector
- Energy
- Publication date
- 8/21/2024
- Effective date
- 8/6/2024
- Total FMO financing
- EUR 0.10 MLN
- Funding
- Building Prospects
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+