•  
  •  
  •  

IFC to help Senegal develop 200-MW solar project

Solar panels. Featured Image: pornvit_v/Shutterstock.com

February 11 (SeeNews) - Senegal plans to develop an up to 200-MW utility-scale solar power project under the World Bank’s Scaling Solar programme.

The International Finance Corporation (IFC) said on Tuesday it has agreed to help the government of Senegal carry out due diligence and tender the solar project. At the same time, the World Bank, IFC and the Multilateral Investment Guarantee Agency would back the bidding phase, the announcement says.

The Scaling Solar initiative was created to facilitate the development of privately-owned large-scale solar projects in sub-Saharan Africa. Countries that benefit from the programme get a one-stop-shop package of advisory services, guarantees, financing and contracts. Zambia made use of that initiative last year as it sought help for the development of a 100-MW project.

World Bank data shows that just over half the population of Senegal currently has access to electricity, which is considered to be “fundamental” for the country’s economic development, according to Louise Cord, World Bank director for Senegal.

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription