The Project Company is Zina Solaire S.A. (the “Borrower”), a special purpose vehicle incorporated in Burkina Faso (the “Company”). The Company is 99.9% owned by AMEA Power Ltd (the “Sponsor”), a developer, owner and operator of renewable and thermal power projects across Africa, the Middle East and Asia, and 0.1% by Government of Burkina Faso.                                                   

The Project estimated total cost is approximately EUR39.7 million. The IFC investment includes an IFC A loan of up to EUR8.5 million and risk management products (interest and cross currency swaps). In addition, IFC mobilized the remaining balance of the debt required for the Project, including a senior concessional loan of up to US$10.3 million from IFC as implementing entity of the IFC-Canada Climate Change Program (“IFC-CCCP”).                                                   

The Project is located on a site of approximately 45 hectares in Zina village, Kona municipality, about 180km from the capital, Ouagadougou.                                                   

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   This proposed investment is an Environmental and Social (E&S) Category B project according to IFC’s Policy on Environmental and Social Sustainability, because potential adverse environmental or social risks and/or impacts are limited, few in numbers, site-specific, largely reversible and readily addressed through mitigation measures. During construction, key environmental and social risks and impacts include air emissions and noise, occupational health and safety (OHS), transportation risks and community safety, vegetation removal, and economic displacement. During operations, risks and impacts include water consumption, erosion and dust generation resulting from controlling for vegetation removal, and risks of electrocution of people.