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Dakar, Senegal, 1 st June 2021 - Nearly 540,000 people in Senegal are going to have access to clean and affordable electricity after the commissioning of two photovoltaic plants, financed by IFC, the European Investment Bank (EIB) and Proparco as part of the World Bank Group's Scaling Solar program .
The two plants, which were commissioned last month, are located in the towns of Kael and Kahone, in western Senegal, and have a total capacity of 60MWac. They will supply energy at respective tariffs of 3.98 and 3.80 euro cents per kilowatt hour - one of the lowest prices in sub-Saharan Africa - and will prevent greenhouse gas emissions. greenhouse with 89,000 tonnes of CO 2 per year.
The two plants were developed by Engie , Meridiam and the Sovereign Fund for Strategic Investments of Senegal ( FONSIS ). The project was the subject of a call for tenders launched by the Electricity Sector Regulatory Commission (CRSE).
Even if the proportion of Senegalese with access to electricity has increased sharply over the past thirty years, nearly a quarter of the population still does not benefit from it. The sector is also dependent on costly fuel imports, with 80% of the country's energy mix being oil-based.
“The Kael and Kahone solar power plants exemplify our commitment to supporting Senegal's transition to cleaner, more affordable energy, while creating business opportunities for local communities. These two projects are expected to provide the equivalent of 540,000 people with renewable and cheap electricity, a record in sub-Saharan Africa, and will support more than 400 direct and indirect local jobs, ”said Mathieu Peller, COO of Meridiam Africa.
The plants were financed through loans in the amount of 38 million euros provided by IFC, the Finland-IFC Blended Finance Program for Climate Action , the European Investment Bank and Proparco , a subsidiary of the French Development Agency dedicated to the private sector. The Multilateral Investment Guarantee Agency ( MIGA ), a member of the World Bank Group, issued € 6.9 million in guarantees to support the operation, providing protection against non-commercial risks for a maximum period of time. 15 years old.
Both projects were implemented with support from the Power Africa Initiative of USAID , the Government of the Netherlands , the Rockefeller Foundation and DevCo .
"This project is a testament to the success of the Scaling Solar program," said Sérgio Pimenta, IFC vice president for Africa and the Middle East. “From project launch to commissioning of plants, the program has enabled the government to attract world-class investors, foster competition and secure unprecedented prices for solar energy. This project thus demonstrates that it is possible to strengthen solar investments throughout the region. "
“Access to reliable, affordable and clean energy is crucial for economic and social development,” said Ambroise Fayolle, Vice-President of the European Investment Bank. “The close cooperation between the European Investment Bank, African and international partners through Scaling Solar unlocks investments to harness solar energy in Senegal and provides a model to accelerate the green transition in Africa. "
“Proparco is delighted with the commissioning of the Kahone and Kael solar power plants, which marks a new stage in Senegal's low-carbon transition. The low price of the electricity produced by this project, one of the cheapest in sub-Saharan Africa, demonstrates the immense potential of solar energy and testifies to the capacity of development institutions like Proparco to contribute to the sustainable development of the region. continent ”, declared Gregory Clemente, Managing Director of Proparco.
Senegal is the second country where photovoltaic projects piloted by Scaling Solar are at the operational stage. The first solar power plant submitted to a call for tenders and financed under this program was inaugurated in Zambia in March 2019. Scaling Solar continues to expand and today supports projects at different stages of development in Afghanistan, in the Côte d'Ivoire, Madagascar, Togo and Uzbekistan.
About Scaling Solar
Scaling Solar is a World Bank Group program aimed at helping governments launch and rapidly deploy large solar projects by attracting private finance. It offers a set of services encompassing technical assistance, standardized documentation, pre-approved financing, and insurance and guarantee instruments. Scaling Solar is supported by the governments of Denmark, the Republic of Korea, the Netherlands and the United Kingdom, as well as USAID's Power Africa initiative and the Collaborative Fund for Infrastructure Development (DevCo ). For more information, visit www.scalingsolar.org
About IFC
The International Finance Corporation (IFC), a member of the World Bank Group, is the leading private sector-focused development institution in emerging countries. It is active in more than 100 countries and devotes its capital, skills and influence to creating markets and opportunities in developing countries. In FY2020, it invested $ 22 billion in private companies and financial institutions in developing countries, mobilizing the capacities of the private sector to end extreme poverty and promote shared prosperity. . For more information, visit www.ifc.org .
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About Proparco
A subsidiary of the Agence Française de Développement group (AFD Group) dedicated to the private sector, Proparco has been working for more than 40 years to promote sustainable development in economic, social and environmental matters. Proparco participates in the financing and support of companies and financial institutions in Africa, Asia, Latin America and the Middle East. Its action focuses on key development sectors: infrastructure with a focus on renewable energies, agro-industry, financial institutions, health, education ...
Its interventions aim to strengthen the contribution of private actors to the achievement of the Sustainable Development Goals (SDGs), adopted by the international community in 2015. To this end, Proparco finances companies whose activity contributes to job creation and decent income, the provision of essential goods and services, and the fight against climate change. For a world in common. More information on www.proparco.fr and @Proparco
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