SCALING SOLAR PV SENEGAL

Promoter – Financial Intermediary

ENGIE,MERIDIAM SAS,FONDS SOUVERAIN D'INVESTISSEMENTS STRATEGIQUES SA

Location

• Senegal

Description

The project consists of the construction and operation of two independent solar photovoltaic (PV) plants totaling up to 60MW under the World Bank Group's Scaling Solar program, located in Kahone and Touba, Senegal.

Objectives

The development of solar PV energy in Senegal supports EU and national targets for renewable energy generation and contributes to the Bank's renewable energy and climate objectives. The project is fully in line with the strategic objectives set for the Bank's activities under the Cotonou Investment Facility since it will contribute to increase the energy supply and its affordability using sustainable solar energy resources. The project will contribute to EU renewable energy and environmental policies (particularly climate change policies) and several Sustainable Development Goals (SDGs), especially SDG 7, affordable and clean energy, and in particular subgoal 7.2 relating to increasing the share of renewable energy in the global energy mix. It will also contribute towards combatting climate change (SDG 13). The project directly supports the objectives of the Government of Senegal to achieve universal access to energy by 2025.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

EUR 12 million

Total cost (Approximate amount)

EUR 47 million

Environmental aspects

Compliance of the project, including the adequacy of the proposed mitigation measures, with the EIB's environmental and social standards and the principles of the relevant EU Directives will be verified during appraisal.

Procurement

The EIB will assess the procurement aspects of the project to ensure alignment with the EIB's Guide to Procurement and that it is suitable for Bank financing.

Status

Signed - 18/07/2019