Sponsors
Globeleq Generation Ltd or its affiliates from time to time (“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. Globeleq is owned by Actis Infrastructure 2 LP (“AI2”), a fund managed by Actis LLP, a leading equity investor in emerging markets which is majority owned by the UK’s CDC Group. Today, Globeleq owns five operating power projects globally, three of which are in Africa and has an extensive development pipeline of projects.

Industrial Promotion Services (West Africa) (“IPS (WA)”) is the industrial development arm of the Aga Khan Fund for Economic Development (“AKFED”) with operations in Côte d’Ivoire since the mid-1960s. IPS, 15percent owned by IFC, has a longstanding experience in the power sector with projects in Kenya, Uganda and Mali. Both sponsors have the required technical know-how and local knowledge to successfully implement the Project.

Company
Azito Energie S. A. (the “Company”), a special purpose company registered under the laws of Côte d’Ivoire, is directly and indirectly (through Cinergy Holdings) owned by Globeleq (76.9 percent) and IPS WA (23.1percent). Initially majority owned by ABB and EdF, with CDC (and subsequently Globeleq) and IPS as minority shareholders, it has been in operations for over 10 years and demonstrated a sound financial condition throughout its operating years.

The Project estimated cost is $[412] 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 $[135] million. In addition, IFC will be mobilizing the remaining balance of the required debt amount for the Project.

125.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	125.0
Equity

* These investment figures are indicative

The Project is located in the Azito village in the Yopougon District, approximately six kilometers West of the Port of Abidjan in Côte d’Ivoire.

IFC''s involvement in this Project is expected to:
* Support the provision of least cost, reliable and clean base load power to help reduce the country''s power shortage, and support its economic recovery;
* Displace expensive emergency thermal power being rented today, thus reducing costs to Ivoirian consumers;
* Stimulate the entrance of new IPPs and the use of combined cycle technology, making efficient use of the country''s natural gas resources (as the Project does not use additional gas);
* Provide a strong signalling effect to the broader investment community to support Côte d''Ivoire''s economic growth.

IFC is expected to bring the following additionality to the Project:
* Providing long-term financing commensurate with what is required for such a project;
* Leveraging internal resources and experience to help reach financial closing swiftly, thus responding to an urgent need expressed by the Government of Cote d''Ivoire. IFC is playing a Lead Arranger and Global Coordinator role for the financing of the Project.

This is a Category B project because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Further, it is possible to readily design and implement engineering and management measures to mitigate the limited adverse impact.