Page 16 - AfrElec Week 22 2021

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Scaling Solar supports 60 MW

of solar capacity in Senegal

POLAND THE World Bank’s Scaling Solar programme implemented in partnership with the United
has launched 60 MW of solar capacity in Senegal States Agency for International Development
that will offer one of the lowest power prices in (USAID)’s Power Africa, the Government of the
sub-Saharan Africa. Netherlands, The Rockefeller Foundation, and
The World Bank said this week that the Kael The Infrastructure Development Collaboration
and Kahone solar plants would provide energy Partnership Fund (DevCo).
at tariffs of €0.0398 and €0.038 per kWh and “Completion of the Kahone and Kael solar
would prevent 89,000 tonnes per year (tpy) of plants is a testament to the success of the Scal-
CO2 emissions. ing Solar programme,” said Sérgio Pimenta,
The project was financed by the IFC, the vice-president for the Middle East and Africa at
European Investment Bank (EIB) and France’s IFC.
Proparco. “From inception to operation, the pro-
The two plants are also sponsored by Engie, gramme laid the groundwork for the govern-
Meridiam and the Senegalese Sovereign Wealth ment to attract world-class investors, enable
Fund for Strategic Investments (FONSIS). competition and achieve record-low prices for
The projects were awarded by competitive solar power. This project has created a market
tendering led by Senegal’s Energy Regulatory that demonstrates the possibility for growing
Commission (CRSE). solar investment across the region.”
Nearly a quarter of the population still lacks “Access to reliable, affordable and clean
access to electricity, and the country’s s power energy is crucial for economic and social devel-
sector has been historically reliant on costly fuel opment,” said Ambroise Fayolle, EIB vice-pres-
imports, with about 80% of its energy mix being ident. “The close co-operation between the
oil-based. European Investment Bank, African and
“The Kael and Kahone solar power plants international partners through Scaling Solar is
exemplify our commitment to supporting unlocking investment to harness solar energy in
Senegal’s transition to cleaner, more affordable Senegal and provides a model for accelerating
energy, while creating business opportunities green transition in Africa.”
for local communities. These two projects are Senegal is the second country to bring Scal-
expected to provide the equivalent of 540,000 ing Solar-backed PV projects to the operational
people with cheap, renewable electricity. This is a stage.
record in sub-Saharan Africa, which will support In March 2019, the first solar plant financed
more than 400 direct and indirect local jobs”, said and tendered under the Scaling Solar pro-
Mathieu Peller, COO of Méridiam Afrique. gramme was inaugurated in Zambia.
The financing package includes senior The programme continues to grow as it sup-
loans worth €38mn from IFC, the Finland-IFC ports projects in Afghanistan, Côte d’Ivoire,
Blended Finance for Climate Programme, the Madagascar, Togo and Uzbekistan that are cur-
EIB and French development finance institution rently at various stages of development.
Proparco. Scaling Solar makes it easier for governments
The Multilateral Investment Guarantee to quickly procure and develop large solar pro-
Agency (MIGA), a member of the World Bank, jects with private financing. It includes a pack-
issued €6.9mn in guarantees to support the age of expert advice, fully templated documents,
plants, providing protection against non-com- pre-approved financing, insurance products and
mercial risks for a duration of up to 15 years. guarantees.™
The Kahone and Kael projects were

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