MIGA, a member of the World Bank Group, has issued a guarantee for EUR 4.5 million to GreenYellow SAS, of France, that will cover its equity and quasi-equity investments into Société de Production d''Energie Solaire de Ouagadougou SAS (SPES Ouagadougou) for a period of up to 20 years.
The SPES Ouagadougou project consists of the construction, ownership, operation, and maintenance of a solar PV energy facility that will ultimately produce 30 MWp of power. The electricity output will be sold to Société Nationale d''Electricite du Burkina ("SONABEL"), the Burkinabe state-owned utility, under a 25-year take or pay Power Purchase Agreement (PPA). The PPA will be backstopped by a Public-Private Partnership Agreement from the Government of Burkina Faso through the Ministry of Energy and the Ministry of Finance.
"This solar facility will help narrow Burkina Faso''s power deficit in a cost-effective manner while supporting the country''s transition to renewable energy," said MIGA''s Executive Vice President Hiroshi Matano. "MIGA''s support sends a clear signal to private sector of the possibilities in the Sahel region."
"With this solar project, GreenYellow strengthens its positions in Africa and leverages its unique decentralized model to help Burkina Faso substantially reduce its dependency on imported energy, increase the use of clean, climate-friendly renewable energy, and reduce energy cost for the country''s citizens. Political risk insurance from MIGA demonstrates the Group''s ability to finance its growth ambitions in promising markets like Burkina-Faso," said Otmane Hajji, President of GreenYellow.
This project was approved by MIGA''s Board of Directors along with three other solar PV projects that are independent of one another but similar in terms of structure. Collectively, the projects will have a capacity of 102 MWp, and constitute the country''s first round of solar Independent Power Producers. MIGA''s support for these solar projects is considered critical to their realization both by investors and by the government.
Through the Sahel Alliance Initiative, the World Bank Group (WBG) is actively engaged in strengthening institutional capacity and expanding access to renewable energy in the G5 Sahel Countries (Burkina Faso, Chad, Mali, Mauritania, and Niger). This project contributes to the WBG''s efforts to double renewable energy installed capacity and electricity access in the G5 countries over 2018-2023.
In 14 years, GreenYellow has become a major player in the energy transition in France and abroad and a true ally of companies and public communities in this field.
As an expert in decentralized solar photovoltaic production, energy efficiency projects and energy services, GreenYellow offers its clients a unique and global platform to empower them to make their energy transition a beneficial and committed reality.
By March 31, 2021, GreenYellow had developed 355 MWp of photovoltaic capacity, of which 184 MWp are partly or fully owned, nearly 2,600 energy efficiency agreements representing an annual volume of 855 GWh, of which 511 GWh are partly or fully owned, and was managing more than 2.9 TWh of energy for its clients.
GreenYellow is constantly expanding its offering through innovation to meet the needs of private and public players and to help them reduce their environmental footprint.
MIGA was created in 1988 as a member of the World Bank Group to promote foreign direct investment in emerging economies by helping mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war & civil disturbance; and offering credit enhancement to private investors and lenders.
About Burkina faso california solar energy
As the photovoltaic (PV) industry continues to evolve, advancements in Burkina faso california solar energy have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Burkina faso california solar energy for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Burkina faso california solar energy featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
Related Contents
