Background:

In September 2022 Togo’s Agency for Rural Electrification and Renewable Energies (AT2ER) issued the Request for Proposals (“RfP”) for a project consisting in the design, building, financing, operation, and maintenance of a 42MW solar PV plant located in Salimde, 6km East from Sokode, in the central region of Togo. The project technical scope also includes transmission facilities to be handed over to Togo’s national power utility, CEET upon completion.

Meridiam was the only bidder to submit an offer in January 2023, leading the AT2ER to cancel the tender process in March 2023, and to invite Meridiam, subsequently joined by EDF International (“EDFI”), to enter into direct negotiations after obtaining the required authorization from the National Directory of Public Procurement Control Direction.
Along with EDFI representatives, the project team took part in several working sessions with the Ministry of Energy and Mines in order to define a common methodology and roadmap to Commercial and Financial Close, which eventually led to signing the Concession Agreement and Power Purchase Agreement on 3 December 2023, during COP28.
The State of Togo is expected to become a shareholder of the Project Company by financial close.

Stage:

Commercial close

ESG Matters:

In December 2023, sponsors mandated a consortium comprising Antea, Insuco and JAT Consulting (E&S advisors) to conduct the Environmental and Social Impact Assessment (ESIA), in line with IFC Performance Standards and national legislation. A resettlement action plan (RAP) has been implemented in compliance with IFC performance standards and with IFC’s support by the State of Togo. Nonetheless, a gap analysis is being carried out by Insuco, a specialist in social impact assessment.