Senegal has commissioned its first utility-scale solar power project, possibly paving way for increased investment in the country’s renewable energy sector.
Paris-based investment company GreenWish Partners has announced that it commissioned a 20 MW solar power project in northern Senegal. The company claims that, apart from being the first utility-scale solar power project in the country, it is also the first solar IPP project commissioned in West and Central Africa.
The project was developed by Vinci Energies in less than eight months. The generation cost of the project is reported to be less than than of the country’s overall energy mix. GreenWish claims that the power generated from the project will offset 25,000 tonnes of carbon dioxide emissions and also bring-in $4.9 million savings for the government every year.
The Senegalese Sovereign Fund holds 45% stake in the project and the 2% of the project revenue and all carbon credits generated from the project shall be allocated to the local communities.
Earlier this month, GreenWish also announced plans to set up projects in Nigeria as well. The company stated plans to implement two solar power projects of 50 MW capacity each in northern Nigeria. The total investment for the projects is expected to be around US$130-150 million. The projects are expected to be commissioned next year.