The Government of Senegal and the International Partners Group (IPG), comprising France, Germany, the EU, the UK and Canada, have announced the launch of a Just Energy Transition Partnership (JETP) to support the country’s efforts to achieve universal access to energy and consolidate a low-carbon, resilient and sustainable energy system
Senegal has reaffirmed its determination to strengthen the deployment of renewable energies in its energy mix as part of the Integrated Low-Cost Electricity Plan. This initiative aims to reducing emissions from the sector while enabling fair and resilient development.
The international partners and multilateral development banks will mobilise EU€2.5bn (Approx. US$2.7bn) in new and additional financing over an initial period of three to five years (starting in 2023). The partnership will also offer opportunities for investment from the private sector, soverign wealth funds and philanthropic foundations.
Senegal, in conjunction with the members of the international partners’ group (IPG), will draft an investment plan within 12 months, identifying the investments required and the opportunities to implement its vision of a just and equitable energy transition.
Senegal President, Macky Sall, commented, “The multifaceted crises we are experiencing today are straining African economies, particularly in their significant efforts devoted to economic development, access to energy and industrialisation.
“Diversifying our energy sources and our supply chains will increase our resilience. The partnership for a just energy transition that we are establishing today with our partners will make it possible to support the Senegalese dynamic that we started several years ago of incorporating renewable energies into our energy mix and securing our energy system thanks to all our natural resources in line with the Paris Agreement.”
According to energy services provider Wärtsilä, the deployment of renewables will save West Africa significant capital over the long-term. Speakers from the company presented this opinion – centred around a case study on Senegal – at the West Africa Energy Transition Forum in Dakar. Click here to read the full article.
