AFD in Latin America and the Caribbean
El Salvador’s first solar power plant launched: Partnership between PROPARCO, France’s Neoen and Inter-American Development Bank
, represented by its Chief Executive Officer Grégory Clemente, and
(Inter-American Investment Corporation), represented by its Chief Executive Officer James Scriven, have today signed an agreement for the construction and operation of a photovoltaic power plant in El Salvador.
The USD 30m loan agreement for the Providencia Solar joint venture was signed in the presence of Rémy Rioux, Chief Executive Officer of AFD, and the Chief Executive Officer of IDB , Luis Alberto Moreno.
This project combines the expertise of France’s Neoen , El Salvador’s Almaval and Spain’s manufacturer TSK via a joint venture. It will develop the local electricity supply at a competitive cost, while reducing greenhouse gas emissions.
Rémy Rioux, Chief Executive Officer of AFD and Luis Alberto Moreno, Chief Executive Officer of IDB
Large-scale solar project
With a total capacity of 100 MWp, the new Providencia Solar power plant will supply electricity equivalent to the annual consumption of 176,000 inhabitants. It will comprise two substations: Antares, a 75 MWp plant, and Spica, a 25 MWp plant. Its commissioning is scheduled for May 2017.
The total project cost is estimated at USD 150m, with USD 30m of financing from Proparco, including a USD 12m AFD subparticipation, USD 57.7m from the Inter-American Development Bank (IDB) and USD 30m from the Canadian Climate Fund syndicated by IDB.
International development of French expertise
Neoen is a young French company, set up in 2008, with recognized technological expertise in renewable energy solutions. It mainly operates in the solar and wind energy sector in France. The company has recently developed Europe’s largest photovoltaic farm, which is located in Cestas in the Gironde region (300 MW).
Proparco’s financing will support the enterprise's international development.
Structuring a new industry in El Salvador
It is El Salvador’s first solar power plant and will diversify the country’s energy mix, which is still highly dependent on fossil fuels (49%). It is estimated that the solar energy generated will replace the equivalent of 163,800 MWh of thermal energy every year, while avoiding annual greenhouse gas emissions by 39,800 tons of CO2.
This project is a major step in El Salvador’s energy transition. It will bring a new technology to the country and structure the solar industry with a view to the development of new projects (150 additional MW planned by 2017). It meets the objective of the Government of El Salvador to produce clean energy and will contribute to the transfer of know-how in a high-potential sector in the country. The initiative will also prepare the public authorities in the renewable energies sector for negotiations with private operators.
Support for local development
The solar power plant, which is located in the La Paz department 40 km from the capital, will contribute to El Salvador’s economic and social development by increasing access to electricity for the population. Furthermore, the communities neighboring the power plant will benefit from major social impacts, as 3% of the income from the Antares power plant will be invested in local development projects.
Rémy Rioux appointed Chief Executive Officer of Agence Française de Développement by the Council of Ministers today, 25 May 2016
Today, on a proposal made by François Hollande at the Parliament on 27 April 2016 and following a unanimous favorable vote of MPs and a majority of Senators, Mr. Rémy Rioux, 46, Deputy Secretary General of the French Ministry of Foreign affairs and International Development, has been appointed Chief Executive Officer of Agence Française de Développement, a Public Industrial and Commercial Establishment responsible for development in Southern countries and the French overseas territories. Rémy Rioux, AFD’s 11th Chief Executive Officer, will take over as head of AFD on 2 June 2016.
Rémy Rioux was born in June 1969 in Neuilly-sur-Seine and is an alumnus of the Ecole Normale Supérieure, rue d’Ulm, Sciences Po, and the Ecole Nationale d’Administration. He is a historian by training, a former student of Alain Corbin and Pierre Nora, and Senior Advisor at the Court of Auditors. During his career, he has alternately held responsibilities in France and for development in Africa.
Rémy Rioux appointed Chief Executive Officer of AFD © Alain Buu
At the age of 26, Rémy Rioux discovered Africa during an ENA internship in Benin, and subsequently by campaigning to promote the harmonization of business law in Africa. He has a love of this continent and has travelled across it throughout his career, established close ties there, and acquired a recognized expertise in development issues. He worked at the Directorate of the Treasury from 2004 to 2007, and subsequently from 2010 to 2012, where he contributed to modernizing monetary cooperation with African Franc Zone member countries, participated in the resolution of the Ivorian crisis, and contributed to making the issue of infrastructure and development central to the international agenda of the G20. At the time, he was a Member of the Boards of Directors of AFD and its subsidiary PROPARCO.
Rémy Rioux also conducted control missions in the energy and defense sectors at the Court of Auditors between 1997 and 2004. He worked at the Ministry of the Interior from 2000 to 2002, at the Office of the Minister Daniel Vaillant, where he was responsible for the budget and changeover to the euro. He also held a position at the State Holdings Agency (APE), from 2007 to 2010, as Chief Investment Officer responsible for the transport and media sectors, and sat on the Boards of Directors of various companies (SNCF, RATP, ADP, Renault, France Télévisions, France Médias Monde, Arte, le Grand Port Maritime du Havre).
In 2012, he was Director of the Office of the Minister of the Economy, Finance and Foreign Trade, Pierre Moscovici. He was actively involved in redefining economic relations between Africa and France and in the work conducted by Jacques Attali on economic Francophonie. Two years later, Laurent Fabius, Minister of Foreign Affairs and International Development, appointed him Deputy Secretary General of the Ministry, in charge of economic issues. Alongside the Minister, he managed the financial component of the negotiations for COP21.
Following the announcement made by the French President in September 2015 of a revival of France’s Official Development Assistance policy and an increase in development and climate finance (by EUR 4bn by 2020, to reach EUR 12.5bn of annual commitments, including EUR 5bn for the climate), he was entrusted with a preparatory mission for the establishment of closer ties between Agence Française de Développement and Caisse des Dépôts, which aims to provide France with a tool capable of meeting the challenges of the Sustainable Development Goals.
He is a man of dialogue and conviction and is deeply attached to the Massif Central region, particularly Corrèze and Lozère, where he regularly stays with his wife and three children.
- 26 June 1969: Born in Neuilly-sur-Seine, France
- 1997: Auditor at the Court of Auditors on leaving ENA (Marc Bloch Class), where he became Senior Advisor in 2013
- 2001 and 2002: Budget Advisor at the Office of Daniel Vaillant at the Ministry of the Interior
- 2003: Control missions in the energy and defense sectors at the Court of Auditors
- 2004: General Directorate of the Treasury, Head of the Office for Monetary and Development Cooperation with African, Caribbean, Pacific and Franc Zone countries
- 2007: Deputy Director for the transport and audiovisual sectors at the State Holdings Agency (APE)
- 2010: Deputy Director for international financial affairs and development at the General Directorate of the Treasury
- 2012 to 2014: Director of the Office of Mr. Pierre Moscovici at the Ministry of the Economy and Finance
- 2014: Deputy Secretary General of the Ministry of Foreign Affairs and International Development in charge of economic affairs
- 2015: Responsible for financial matters in the French negotiation team for COP21.
- June 2016: Appointed the 11th Chief Executive Officer of Agence Française de Développement.
At COP21, in Paris, Jolita Butkeviciene, European Commission (EC) Director for Latin America and the Caribbean, and Régis Marodon, Director of the Latin America and Caribbean Department at AFD, today signed a new financial partnership for sustainable cities in Latin America, in the presence of Luis Enrique Berrizbeitia, CAF 's Executive Vice President.
This technical cooperation program, which is financed via a EUR 4.2m grant, will allow CAF and its partners to define and implement climate strategies at local level. This European Union support is being provided through a blending instrument combining grants and loans, which aims to promote local investments that contribute to poverty reduction. This support, provided thanks to the LAIF (Latin America Investment Facility) program, comes in addition to a EUR 100m loan allocated by AFD in early 2015, which will finance projects for sustainable urban investments: construction of a public transport network, works to upgrade energy efficiency in buildings and street lighting, adaptation projects for cities exposed to water stress and the risks of extreme weather events.
This new stage is part of the three institutions’ “Cities and Climate” strategy in Latin America, a continent where 80% of the population is urban and where there are major urbanization challenges.