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Meridiam closes financing for 30-MW solar project in Senegal

Solar panels. Featured Image: pornvit_v/Shutterstock.com

December 7 (SeeNews) - French public infrastructure investor Meridiam said on Wednesday it has finalised the financing of the 30-MW Ten Merina solar photovoltaic (PV) project in Senegal.

French development agency Proparco and the Belgian financial institution for development, BIO, have provided an 18-year loan of EUR 34.5 million (USD 37m) to finance the construction and operation of the facility.

The total cost of the project is estimated at EUR 43 million. The scheme is being realised in association with French construction companies Eiffage (EPA:FGR) and Solairedirect, a subsidiary of Engie (EPA:ENGI).

The Ten Merina plant will be located 10 km (6.2 miles) from the country’s first solar power facility -- the Senergy centre, which is expected to go online in early 2017. The second solar centre will be capable of generating enough electricity to cover the annual consumption of about 200,000 inhabitants.

(EUR 1.0 = USD 1.072)

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

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