Ten Merina Ndakhar SA

Senegal Infrastructure

We are invested in Ten Merina Ndakhar SA through Meridiam Infrastructure Africa Fund, which is managed by Meridiam.

We do not hold direct relationships with the companies that investment funds invest in. Instead, we hold relationships directly with the fund. When investing through investment funds, CDC takes an active role as a limited partner to the fund, working with the fund manager to ensure best practices, including in environment, social and governance matters, and investment management oversight.

The Ten Merina project consists of the design, construction, financing, operation and the maintenance of a 29.5 MWc solar power plant. Ten Merina Ndakhar SA will also be in charge of the construction of a 3-km transmission line on behalf of the client Senelec. The project will be located near Mbouky, approximately 145 km from Dakar. Tenergie, the initial developer of the project, signed a 25-year PPA with SENELEC, the Senegalese electricity utility at the end of December 2013. Meridiam partnered with Eiffage, joining the project as majority shareholder, so as to finalize the development phase and raise the financing required for financial close.

For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

Africa, West Africa

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Meridiam Infrastructure Africa Fund
Fund Manager:
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

June 2017

This is the investee company’s place of incorporation; or a fund’s jurisdiction.


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