Ghoubet Wind Farm

active

The project involves the design, construction, operation and maintenance of a 60 MW wind farm in the Arta Region along the border with the Tadjura Region of Djibouti. The produced energy will be sold to the state-owned electricity utility, Électricité de Djibouti, under a 25-year Power Purchase Agreement. The SPV is called Red Sea Power Limited SAS and owned by Africa Finance Corporation (51%, $63 million equity contribution), FMO (19.5%, $24 million), Climate Investor One (19.5%, $24 million) and Great Horn Investment Holdings (wholly owned subsidiary of The Djibouti Ports and Free Zones Authority for 10%, $12.5 million). The project cost is $123.5 million. MIGA issued guarantees for $91.6 million. Financial close was reached in February 2020. https://www.fmo.nl/news-detail/79554970-9b0f-4ae4-a86d-e74d2d503f13/first-renewable-energy-project-in-djibouti-launched-by-investors-afc-cfm-fmo-and-ghih https://www.miga.org/project/ghoubet-djibouti-windfarm-project-0 https://www.miga.org/press-release/amid-global-uncertainty-miga-backs-djibouti-wind-company-ltd-investment-countrys https://ijglobal.com/data/transaction/50058/ghoubet-wind-farm-60mw