ENGIE and Meridiam sign for solar PV projects in Senegal

ENGIE Scaling solar signature.JPGENGIE and partners Meridiam and FONSIS have signed EPC, operation and maintenance and Finance contracts for two solar PV projects of 60MW

The total investment cost for the projects amounts to US$53.28mn and debt is provided by the European Investment Bank (EIB), the International Finance Corporation (IFC) and Proparco.

The solar PV plants are part of the Scaling Solar initiative in Senegal, conducted jointly by the Senegalese authorities and IFC. ENGIE was selected as preferred bidder by Senegal’s Electricity Sector Regulation Commission (CRSE) in a tender launched in October 2017.

ENGIE and Meridiam hold a 40 per cent shareholding in the project company. FONSIS, the Senegalese sovereign fund, is a shareholder with a 20 per cent equity stake. The projects are located in Kahone (Kaolack region) and in Touba-Kaël (Diourbel region). The construction and operation of the plants will be managed and executed by ENGIE.

In Senegal, ENGIE is involved in the Senergy project, a 30MW solar photovoltaic plant in the town of Santhiou Mekhé and in Ten Merina, a 29.5MW solar photovoltaic plant in the region of Thiès, near Dakar. Both projects are currently in operation.

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