FCS RE CIPREL V

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 The proposed CIPREL 5 Independent Power Project (“the project” or “the CIPREL 5 project”) is being developed by Atinkou S.A. (“Atinkou” or “the Company”), a Special Purpose Vehicle owned by Eranove, a leading industrial group that manages and provides technical oversight to its subsidiaries in Côte d'Ivoire and Senegal. The project consists in the construction and operation of a natural gas-fired power plant near Abidjan, Côte d’Ivoire. The Project is designed as a 390 MW combined cycle to be built on a new site located approximately 50 km west from Abidjan and will be constructed and operated under a 20-year Build-Own-Operate-Transfer (“BOOT”) concession agreement.  IFC invested in 2013 in the existing CIPREL 4 project, currently owned by Eranove, the State of Cote d’Ivoire and the Western African Development Bank, located in the Vridi industrial area in Abidjan. The existing CIPREL thermal power plant consists of 5 gas turbines (GTs) installed in 3 Phases between 1995 and 2009. The 2013 investment consisted in the expansion of the existing 321 MW natural gas-fired power plant by adding a 111MW steam cycle capacity to 2 x 111MW open cycle gas turbines, converting them into a combined cycle operation, and retrofitting these turbines to Dry Low NOx technology for NOx emissions reduction. The environmental and social (E&S) information related to the CIPREL 4 is disclosed on the IFC Project Information Portal at  https://disclosures.ifc.org/#/projectDetail/ESRS/31833. Although borne by a separate project company, the CIPREL 5 project will benefit from the experience acquired on the existing CIPREL 4 project.   The proposed IFC investment includes an IFC A loan and client risk management instruments (interest rate hedging) for an aggregate amount of up to EUR [120] million. In addition, IFC will be mobilizing the remaining balance of the required debt amount for the project. The CIPREL 5 project is comprised of one 265 MW gas turbine combined with a Heat Recovery Steam Generator and a 125 MW steam turbine as well as the balance of plant including the closed-circuit water-cooling system (forced-draft), water treatment plant (including demineralization processes), effluent treatment and sewage treatment plant, lubrication system, compressed air system and fire extinguishing infrastructures and administrative buildings. The plant will be connected to the network through a 400kV switchyard that will be constructed on a parcel adjacent to the project site. The raw water will be supplied from boreholes and stored within the raw water/fire water tank. The Government of Côte d’Ivoire is undertaking a national program to improve its power transmission network around Abidjan with the proposed development of a new 400kV transmission line (“the Vridi-Akoupé transmission line”), that would be designed and constructed from the south of the city (Vridi-Ile Bouley) to the north (connection to the Akoupé-Zeudji connecting station) by the national power agency CI-Energies and the government of Côte d’Ivoire. The CIPREL 5 project will be connected to the Vridi-Akoupé transmission line through the construction of a 15.6 km line (“the CIPREL 5 transmission line”) between the site and the ‘pylon 55’ (one of the pylons of the main segment of the line, located approximately 2 km North of Lake Labion). The responsibility of the construction and financing of this section of the line also falls under the responsibility of CI-Energies and the Government of Côte d’Ivoire.  The duration of the construction works of the plant will be approximately 27 months. It is anticipated that the new gas turbine will run in open cycle-mode for around 9 months until the plant achieves combined cycle operation.  The project is being built to operate on gas solely. It is envisaged that gas will be sourced from national offshore reserves. The natural gas will be delivered to the site through a 4.2 km buried pipeline that will connect the site to one of the existing pipelines currently installed along the shore. The design and routing of the pipeline is still under consideration by CI-Energies (who is currently discussing with the various gas suppliers active in the country to build this piece of infrastructure). At this stage, it is expected that its routing will follow an existing dirt road with a few limited crossings of industrial coconut plantations.  The project will be constructed on 10-hectare out of a 30-hectare plot of land currently being acquired by the project from the community of the village of Taboth, located approximately 1 km North-West from the site. The parcel of land is located in a rural area currently cultivated with coconut trees and bordered by forest plantations to the north and East. No industrial asset is located in the immediate surrounding of the site, except for the aforementioned plantations (mainly coconut trees). However, the site is located in the area of the future Jacqueville Industrial Zone, part of the Great Abidjan urbanism plan. The site is located approximately 800 m south from the Ebrie Lagoon. A 1.2 km water intake and discharge pipeline will be installed between the project site and the lagoon, passing through agricultural lands, to the East of the village of Taboth and to the West of the forest area. During the construction period, the large pieces of equipment will be delivered to the site using barges from the port of Abidjan through the Ebrie Lagoon. The smaller pieces will be delivered by road. The project is currently considering the option of designing and constructing a quay to be located just before the bridge of Jacqueville (located approximately 10 km East from the site) as the bridge is not high enough to let the large pieces of equipment pass underneath and reach the site directly.  Most of the workers on the construction site will be transported by bus from Abidjan daily. The project is however also to use local hotels and village resident to accommodate some of the workers. A number of hotels in the surrounding of the site will accommodate some of the executives / expatriates working on the site. Finally, a worker’s camp for the operation phase (to accommodate the workers and families) should also be constructed on a 3-4 ha plot of land that has not yet being been identified.