COMPAGNIE IVOIRIENNE DE PRODUCTION
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
CIPREL was incorporated in 1994 as the first independent power producer in Côte d’Ivoire, with the purpose of developing a gas-fired power station near Abidjan. CIPREL has a good financial track record, with an experienced sponsor and on-site management with a successful track record.
What is our funding objective?
FMO has extended a US$25 million IFC B-loan to CIPREL, which will go towards enhancing the efficiency of the plant by generating 25.5% more power, without any incremental gas consumption and no further greenhouse gas emissions.
Why do we fund this investment?
The state-of-the-art technology offers a sustainable, cleaner and more efficient power solution at lower costs. This is well aligned with FMO's strategy to invest in clean energy technology.
- Region
- Africa
- Country
- Côte d'Ivoire
- Sector
- Energy
- Effective date
- 3/19/2014
- Total FMO financing
- EUR 25.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+