Release date: 7 July 2017
Promoter – Financial Intermediary
NATIONAL WATER AND ELECTRICITY COMPANY LTD
The project will consist of three components: (1) a grid-connected photovoltaic (PV) power plant with a total installed capacity of 10 MW including an associated battery energy storage Ssation (BESS), (2) a number of off-grid PV and BESS units for rural health clinics, secondary schools and food manufacturing and storage facilities and (3) power grid reinforcement investments to improve security of supply, reduce technical losses and increase its renewable energy take-up capacity.
The development of solar PV energy in The Gambia contributes to EU and national targets for renewable energy generation and the Bank's renewable energy and energy efficiency and climate objectives. It is consistent with the objectives of the Cotonou Agreement, and in line with the Bank's policies of supporting renewable energy development and combating climate change. Improving energy infrastructure is consistent with the EU "Agenda for Change" policy, which identifies energy as an essential driver of economic growth. The project will contribute to reducing the existing electricity supply gap in The Gambia using sustainable solar energy resources.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 102 million
Total cost (Approximate amount)
EUR 141 million
Details of the environmental impact assessment (EIA) procedures will be reviewed during appraisal, in particular the procedures for ensuring compliance with the EIB's standards and with the principles of EU directives.
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Signed - 27/12/2018
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).