Saint-Louis - Dagana - Podor Rural Electrification

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In January 2010, the Saint-Louis - Dagana - Podor rural electricity distribution and generation BOT reached financial closure, when the project was approved by IFC Board. The sponsor was COMASEL Saint Louis SA, a JV composed by IFC (16.6%) and Moroccan Office National de l'Electricite (73.4%). Under the term of the 25-year BOT agreement, the sponsor was expected to design, construct and operate an electricity distribution system to connect and supply electricity to 19,574 customers in 298 rural villages. Out of a total of 19,574 new customers, 13,885 (71% of total) in 156 villages were expected to be connected to the distribution network, and 5,719 (29% of total) in 142 villages were expected to be connected with solar installations. COMASEL Saint Louis SA was expected to receive up to $6.9 million in Output Based Subsidies from the World Bank.