MONTREAL, June 25, 2014 /CNW Telbec/ - Windiga Energy, a Canadian-based
independent renewable energy power producer, and the Government of
Burkina Faso, as represented by Lamoussa Salif KABORE, Minister of
Mines and Energy and Lucien Marie Noël BEMBAMBA, Minister of Economy
and Finance, have signed an investment support agreement thereby
enabling Windiga to become the first independent solar energy producer
in the country. Siemens Energy Smart Generation Solutions has been
selected to build and operate the pioneering 20-megawatt photovoltaic
("PV") plant, which will be located in Zina, in the Mouhoun province.
The facility is scheduled to be completed at the end of 2015 and will
be the largest photovoltaic power station in Sub-Saharan Africa. The PV
power plant is a project that would include, among its potential
financiers, the African Development Bank (AfDB), the Frontier Markets
Fund Managers and the Emerging Africa Infrastructure Fund.
The Signature of the agreement will permit to finalize a power purchase
agreement (PPA) with the National Electricity Company of Burkina
(SONABEL) for the purchase of entire electricity production of the
facility for 25 years.
The Honourable Edward Fast, Canada's Minister of International Trade who
was in Burkina Faso as part of a trade mission to Africa congratulated
Windiga for the signing of the historic agreement stating, "This US$50
million project will help to meet the country's electricity needs."
"We are very pleased with the support that we received from both the
Governments of Burkina Faso and Canada allowing us to conclude this
strategic agreement that will bring about the construction of a major
renewable energy project and the launch of the solar energy industry in
Burkina Faso," said Benoit La Salle, President and Chief Executive
Officer, Windiga Energy. "This power plant will also contribute to the
economic development of the region, employing about 150 Burkinabé
workers during the construction phase."
"The strong support and commitment of our employees, our African
colleagues and our legal advisors, McCarthy Tétrault LLP, were key to
the success of this historic agreement," stated Mr. La Salle.
About Windiga Energy
Founded in 2010, Windiga Energy Inc. is Canadian-based independent
energy producer focused mainly on developing renewable energy
facilities in Sub-Sarahan Africa. The Company is co-owned by private
investors as well as Dundee Energy Limited (TSX: DEN), an investment
company in the energy sector that creates long-term value through the
development and acquisition of energy projects. Windiga Energy's
founding partners have over 25 years of experience in the development
and realization of major mining, construction and infrastructure
projects in Africa.
SOURCE: Windiga Energy Inc.
For further information:
Benoit La Salle, FCPA,FCA
President and Chief Executive Officer
Cell: +1 (514) 951 4411