May 5, 2022
Orisun Invest
AMEA Power and Windiga Energy closed a transaction on the Zina project, a 26.6 MWp Solar Pv plant in Burkina Faso
Orisun Invest would like to congratulate AMEA Power and Windiga Energy for the successful transaction and financial close of the Zina project, a 26.6 MWp #SolarPv plant in #BurkinaFaso and is proud to have acted as originator for AMEA Power and support during the negotiation.
AMEA Power acquires, develops, owns and operates clean power generation assets in Africa, the Middle East and Asia. The company has renewable energy projects in operation and late-stage development in over 15 countries. In 2021, the company commissioned 150MW of solar and wind capacities, in Jordan and Togo.
The Zina project was initially developed by Windiga, a Canadian-based solar developer, with strong expertise in off-grid and on-grid solar projects in West Africa.
Orisun Invest provided advisory work for Windiga during the development stage and identified the final investor and operator, AMEA Power, who successfully finalized the development. We also provided commercial support during the negotiation phase, from the signing of Term Sheet until the signing of the SPA and transaction close.
When connected to the grid, the Zina project, will be the second operational project of AMEA Power in West Africa after their 50MW plant in Togo. It will help the country to reduce its dependency on fossil fuel, improve the environment, and spend less on power generation.
It is also one of the largest solar plants in Burkina Faso and was the first solar IPP project to start its development in the country, paving the way for all other solar projects and contributing to the structuring of the sector.
The Zina project is project-financed by IFC - International Finance Corporation and Emerging Africa Infrastructure Fund.
It is now starting construction, with POWERCHINA as EPC contractor. COD will be reached in few months.
Congratulation to everyone involved in the project, and especially to the AMEA’s team whose professionalism and dedication made it possible!
About Orisun Invest
Orisun is a project origination platform in renewable energy active in Asia, Central Asia, South-East Asia, Europe and Africa. Since its inception 2 years ago we have closed 207MW in 5 different countries and 3 continents. You can contact us if you are looking for partners or investors.
About Burkina Faso
Burkina Faso is a landlock country in West Africa with a population of app. 21 million inhabitants. The installed power capacity in 2018 was 360MW, mainly from fossil fuel (85%), the rest being hydro and solar PV. Since 2018 the country has been accelerating its energy transition with 136MW of solar closed – including the Zina project. Other projects are being considered, such as a regional solar park proposed by the WAPP, or a battery storage program proposed by IFC. Interconnections with other countries such as Ghana and Niger are being studied to accelerate the regional cooperation, allowing for more solar projects to be connected in the future.
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