Multinational renewables developer Gigawatt Global Cooperatief has signed a Memorandum of Understanding with the Economic Community of West African States (ECOWAS) to invest US$1 billion in renewable energy projects in the region.
Energy Finance & Investment News in Senegal
The African Development Bank, the Green Climate Fund (GCF) and the Africa50 investment fund signed a letter of intent to collaborate on the Desert to Power programme on the sidelines of the Bank’s Annual Meetings, Busan, Korea.
The Government of Senegal issues an open tender for solar projects in Diourbel, Kaoack, and Fatick regions of the country, with a combined storage capacity of 100 MW.
Africa50, the infrastructure fund for Africa, signed a development agreement with Senelec, Senegal’s electricity provider, for competitive selection of a strategic sponsor to develop a 120 MW combined cycle thermal power plant at Malicounda.
Inspired Evolution, has successfully exited a number of its renewable energy investments held in its Evolution One Fund portfolio.
The French group Meridiam has announced it has completed the financing of a 30 MW photovoltaic plant, the second of its kind in Senegal.
The African Development Bank Group appoints Amadou Hott as Vice-President, Power, Energy, Climate and Green Growth
The African Development Bank has announced the appointment of Amadou Hott as Vice-President, Power, Energy, Climate and Green Growth with effect from 1st November 2016. He will join the Senior Management Team of the Bank.
Intermediate capital and mezzanine finance facility Green Africa Power has agreed a €20 million (US$22.5) construction finance loan for Senergy 2 which will provide enough electricity for some 160,000 people from renewable sources.
The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, and Lekela Power, have signed a commitment for the development, construction and operation of a 158 MW wind farm in Taiba N’Diaye, Senegal.
Optimum Tracker has been selected to develop the biggest PV power plant in Senegal: 30MW at Santhiou-Mekhé, Thies area in Senegal, for Solairedirect an ENGIE subsidiary.
Lekela Power, the Pan-African renewable energy generation platform delivering utility scale wind and solar power in the region, has completed the acquisition of codevelopment rights and sole rights to invest in the 158 MW Taiba Ndiaye Wind Project in Senegal.
The Board of Directors of the Overseas Private Investment Corporation (OPIC) has approved the support of the 33 MW expansion and development of the existing 52.9 megawatt combined-cycle thermal power plant located in Cap des Biches, Senegal.
Proparco allocated a €34.5 million loan with an 18-year maturity to finance the construction and operation of a photovoltaic solar power plant in Senegal.
The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with the government of Senegal to develop up to 200 megawatts of solar power under Scaling Solar, a World Bank Group initiative helping African countries procure renewable energy quickly and affordably.
The International Finance Corporation (IFC) and the Overseas Private Investment Corporation have signed financing agreements for the 53 megawatt Cap des Biches power plant.
American Capital Energy & Infrastructure (ACEI) has invested in Senegal's first industrial-scale wind power project and the largest wind farm planned in West Africa.
The government of Senegal has signed a memorandum of understanding (MoU) to develop a floating liquefied natural gas (FLNG) regasification terminal and a 400 MW gas power plant.
In early August, the World Bank Group signed agreements for the Tobene Independent Power Project in Taiba Ndiaye in Senegal. These included a €93.4 million financing agreement arranged by IFC and a $40 million equivalent IDA partial risk guarantee project agreement. The project will provide power to over one and half million residents in Senegal.
ContourGlobal, an international power generation company, announced on Monday that it has signed an agreement with the Senegalese national utility, Société Nationale d’Electricité du Sénégal (SENELEC), to rehabilitate an existing brownfield site and construct a new 53 MW thermal facility under a 20-year Power Purchase Agreement (PPA). The new facility is designed to burn heavy fuel oil and natural gas and when completed in 2015 will be the lowest cost liquid fuel and natural gas-fired power plant in Senegal.