Who sponsors Senegal's solar power plants?

The PV plants, located in Western Senegal, are sponsored by Engie, Meridiam, and the Senegalese Sovereign Wealth Fund for Strategic Investments ( FONSIS ). The competitive tendering process was led by Senegal’s Energy Regulatory Commission ( CRSE ). For more information, please read the press release here.

Does Senegal need a solar power plant?

Senegal´s power sector has been historically reliant on costly fuel imports, with about 80 percent of its energy mix being oil-based. “The Kael and Kahone solar power plants exemplify our commitment to supporting Senegal's transition to cleaner, more affordable energy, while creating business opportunities for local communities.

How many people in Senegal will get solar power?

Nearly 540,000 people in Senegal will get access to clean and affordable power following the launch of two solar photovoltaic (PV) plants, financed by IFC, the European Investment Bank and Proparco, under the World Bank Group’s Scaling Solar program.

Who financed the Kahone and kaél solar power plants in Senegal?

In Senegal, the Kahone and Kaél solar power plants were built thanks to loans from the IFC, the European Investment Bank (EIB) and Proparco, the private sector financing arm of the French Development Agency (AFD). 38 million for the new solar parks.

Where are Kael and Kahone solar plants located?

The Kael and Kahone solar plants, the first financed and tendered under the S caling Solar program in Senegal, became operational in May 2021. The PV plants, located in Western Senegal, are sponsored by Engie, Meridiam, and the Senegalese Sovereign Wealth Fund for Strategic Investments ( FONSIS ).

How much does a kWh of electricity cost in Senegalese?

The kWh of electricity will be sold at 25 CFA francs (4-euro cents). According to the project developers, the Kahone and Kaél solar power plants are capable of supplying 580,000 Senegalese households. The clean energy installations also avoid the emission of 89,000 tonnes of CO 2 per year.