The Paris (France) based Independent Power Producer (IPP) gets a guarantee from the Multilateral Investment Guarantee Agency (MIGA) for its investments in Burkina Faso.
The World Bank Group subsidiary has signed a €4.5 million guarantee covering GreenYellow’s equity and quasi-equity investments in the Société de production d’énergie solaire de Ouagadougou SAS (SPES Ouagadougou), for up to 20 years.
GreenYellow is setting up a special purpose vehicle to construct a solar photovoltaic power plant in Nagréongo, a commune in the Plateau-Central region. The project is being implemented under a Public-Private Partnership (PPP) signed with the Burkinabe Ministry of Energy and Finance. GreenYellow’s request for a guarantee was approved by Miga’s board of directors and three other independent but structurally similar PV projects.
GreenYellow’s project, which benefits from the alliance, will result in the installation of a solar photovoltaic power plant that, when completed, will have a capacity of 30 MWp. This electricity will be sold to the Société Nationale d’électricité du Burkina (Sonabel) under a 25-year power purchase agreement (PPA). “This project contributes to the World Bank Group’s efforts to double installed renewable energy capacity and access to electricity in the G5 countries between 2018 and 2023,” Miga says.