French firm looking to establish solar projects in Africa
French company, Lucas Import Export, is looking to establish solar farm projects in countries across Africa.
The company currently has two 60 MW projects in east Africa where the project holders have signed MOUs and power purchase agreements (PPAs) with their respective governments and national utilities. In addition the projects are also backed by a bank guarantee.
The company requires the following from investors:
- The project must be government-owned by the relative ministry
- The country must provide a sovereign guarantee
- The country must provide a guarantee of repayment (natural resources)
For private projects the project holder must provide a bank guarantee from a leading western bank.
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