Company

Azito Energie S.A. (the “Company”), a special purpose company registered under the laws of Côte d’Ivoire in 1998, is owned 76.9 percent by Globeleq Africa Limited (“Globeleq”) and 23.1 percent by Industrial Promotion Services (West Africa) (“IPS (WA)”).

Sponsors

Globeleq is a power generation developer, owner and operator focused on emerging markets. Since its inception in 2002, Globeleq has held interests in multiple power facilities totaling over 4,000 MW of generation capacity in more than 20 countries. Today, Globeleq operates approximately 1,300MW of power across 5 African countries, and has an extensive development pipeline of projects. Globeleq is owned 70 percent by CDC Group, the UK state development finance institution, and 30 percent by Norfund, the Norwegian investment fund for developing countries.

IPS (WA), is a member of the Aga Khan Fund for Economic Development (AKFED) group of companies, with a strong footprint in Côte d’Ivoire and the sub-region dating back to the mid-1960s. IPS (WA) participates in projects in the agriculture and infrastructure sectors in Africa through, among other leading companies, Ivoire Coton and Azito Energie S.A. It is owned 40.9 percent by AKFED, 15 percent by the Government of Côte d’Ivoire, 15 percent by IFC and 30 percent by others.                                        

The total Project costs for the expansion are currently estimated at approximately EUR [350] million. The proposed IFC investment includes an IFC A Loan and client risk management instruments (interest rate and/or foreign currency hedging) for an aggregate amount of up to the Euro equivalent of USD 60 million. In addition, IFC will be mobilizing the remaining balance of the required debt amount for the Project.

The project might be supported by the Risk Mitigation Facility (RMF) of the IDA18 IFC-MIGA Private Sector Window (PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states.                                      

 The Project is located on the same site as the existing plant, which is located in the Azito village in the Yopougon District, approximately six kilometers West of the Port of Abidjan in Côte d’Ivoire