ENGIE, Meridiam and FONSIS order two new solar projects in Senegal

ENGIE (www.ENGIE-Africa.com), Meridiam and FONSIS (Sovereign Strategic Investment Fund of Senegal) announce the commissioning of two photovoltaic power plants in Senegal with a total production capacity of 60 MW – Kahone Solaire SA (35 MW) and Kael Solaire SA (25 MW) – located respectively in the regions of Kaolack and Diourbel, in the center of the country. These plants are part of the Scaling Solar initiative in Senegal, carried out jointly by the Senegalese authorities and the International Finance Corporation (IFC), which aims to promote investment in solar energy. These are the first electricity production projects by private operators to be the subject of a call for tenders in Senegal. They will directly contribute to the country’s ambitious objective of increasing the share of renewable energies in its energy mix to 30%.

With Senergy and the Ten Merina Plants, ENGIE, Meridiam and FONSIS now owns and manages 4 solar power plants in Senegal with a total production capacity of 120 MW, representing more than 50% of the country’s solar capacity.

The project company managing the concession over a 25-year period is owned by Meridiam (40%), ENGIE (40%) and FONSIS (20%), the Senegalese sovereign wealth fund.

The Kahone and Kael solar power plants are expected to supply 540,000 people with cheap, renewable electricity, creating more than 400 direct and indirect local jobs. The two factories will avoid 89,000 tonnes of CO2 emissions every year. The proposed tariff will be among the lowest in sub-Saharan Africa, at less than 4 euro cents / kWh (25 XOF). To strengthen local communities, socio-economic projects are being implemented, including the establishment of a credit cooperative for the population affected by the installation of solar power plants.

The Kahone and Kael solar power plants will therefore directly contribute to the United Nations Sustainable Development Goals (UN SDGs) and in particular:

  • SDGs # 7 (providing affordable and clean energy),
  • SDGs # 8 (Promote sustained, inclusive and sustainable economic growth),
  • SDGs # 9 (build resilient infrastructure, promote inclusive and sustainable industrialization),
  • and SDGs # 13 (fight for climate action).

For Mathieu PELLET, COO from Meridiam Africa: “After the Senergy and Ten Merina solar power plants, these projects are Meridiam’s 3rd and 4th developments in Senegal. They illustrate our commitment to support Senegal’s transition to cleaner and cheaper energy while creating economic opportunities for local communities.

“The Senegalese government has set a target of 30% renewable energies in the electricity mix by 2025. We are pleased to be able to contribute, with the Kahone and Kael photovoltaic plants, to providing clean and sustainable energy to population. We also salute the excellent collaboration between the various parties concerned ”, declares Philippe Miquel, CEO North Africa to ENGIE.

“Scaling Solar is the achievement of cooperation between FONSIS and several private sector actors, including ENGIE, Meridiam, the International Finance Corporation (IFC), Proparco and the European Investment Bank (EIB). We are delighted with this collaboration which allows our country to achieve several objectives of the “Energy Component” of the PSE; in particular the diversification of the energy mix, the development of clean energies allowing a reduction in pollution, in line with the conclusions of the COP21, but also the strengthening of universal access to sustainable and affordable energy ”, declared the Director General of FONSIS, Papa Demba Diallo.

Distributed by APO Group on behalf of ENGIE.

Media contact:
Email: [email protected]

Antoine Lenoir
+33 6 07 50 75 85
Email: [email protected]

ENGIE
Email: [email protected]

FONSIS
Mamadou Moustapha Diallo
77 333 99 30
Email: [email protected]

About FONSIS:
FONSIS is the Senegalese sovereign wealth fund, respecting the Santiago principles which govern the operation of the largest international sovereign funds of the member countries of the International Monetary Fund (IMF). FONSIS intervenes in the strategic sectors defined in the Emerging Senegal Plan (PSE), in priority: Agribusiness, Health & Pharma, Utilities, Industry, Infrastructure & Transportation. FONSIS invests in equity and quasi-equity in projects with high potential for economic growth, job creation and wealth creation. Projects can vary in size, ranging from SMEs to large-scale structuring projects. FONSIS structures and implements sectoral or / and thematic funds to finance the economy.
For more information: (www.FONSIS.org) (Twitter: @FonsisOfficiel https://bit.ly/3yTggbC) (LinkedIn: FONSIS https://bit.ly/2Rc1DPU) (Facebook: FONSIS https://bit.ly/34wjO5V).

About ENGIE MESCATA:
ENGIE has a presence of nearly 30 years in the Middle East, South and Central Asia, Turkey and Africa region. In the Middle East, it is the leading independent regional producer of electricity and water with a gross capacity of 30 GW of electricity and 5.5 million m3 / day of water production, serving more than 40 million people in electricity and 10 million in drinking water from desalination. . In Africa, the Group has 3.15 GW of electricity production capacity in operation or under construction and is South Africa’s leading independent electricity producer. It is a leader in the decentralized energy market, providing clean energy to more than five million people through solar home installations and local micro-grids. ENGIEThe renewable energy portfolio of more than 2,300 MW of electricity in India and Africa. In the Middle East, the Group is a regional leader in district cooling through Tabreed, in which it holds a 40% stake, and which currently supplies more than 1.4 million tonnes of refrigeration to 86 factories in the GCC. ENGIE is also one of the leading providers of customer solutions in the Gulf region and Morocco. For more information: (www.ENGIEMiddleEast.com) and (www.ENGIE-Africa.com) (LinkedIn: ENGIE Mescata https://bit.ly/3wMQOTy).

About Meridiam:
Meridiam was founded in 2005 by Thierry Déau, with the conviction that the alignment of interests between the public and private sector can provide critical solutions to the collective needs of communities. Meridiam is an independent investment company under French law and an asset manager. The firm specializes in the development, financing and long-term management of sustainable public infrastructure in three key sectors: mobility, energy transition and the environment, and social infrastructure. With offices in Addis Ababa, Amman, Dakar, Istanbul, New York, Luxembourg, Paris, Toronto and Vienna, Meridiam currently manages US $ 10 billion and over 90 projects and assets to date. Meridiam is certified ISO 9001: 2015, Advanced Sustainability Rating by VigeoEiris (Moody’s) and applies a proprietary methodology in relation to ESG and impact based on the United Nations Sustainable Development Goals (SDGs). (www.Meridiam.com) (Twitter: @Meridiam https://bit.ly/2TrlQSp) (LinkedIn: Meridiam https://bit.ly/3c7J72b) (YouTube: Meridiam https://bit.ly/3wMoUak).

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