Project Appraisal document: Western Area Power Generation Project
Publication Date:
Jun 16, 2016
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The Project comprises the development, financing, construction and operation by CECA SL Generation Limited (CECA SL) of a 57 MW green-field thermal power plant running on heavy fuel oil (HFO) on a build-operate-transfer (BOT) basis. CECA SL, the Project Company, was established in Sierra Leone by private sponsors comprising CEC Africa Investments Ltd (CEC Africa, 50.1 percent equity) and Tempus Constant Qualitas Power Ltd (TCQ, 49.9 percent equity) through CEC Africa (Sierra Leone) Limited
Project appraisal document:
- on a proposed IDA guarantee in the amount of up to US$40 million to the Republic of Sierra Leone in support of CECA SL Generation Limited;
- on a proposed IFC financing consisting of an A-Loan in the amount of up to US$30 million and an interest rate swap representing a loan-equivalent exposure of up to US$3 million to Ceca SL Generation imited and;
- on a proposed MIGA guarantee in the amount of up to US$60 million to CECA Africa (Sierra Leone) Limited
for the Western Area Power Generation Project (WAPGP).
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