Landmark Solar and Battery Project in Senegal to Deliver Clean Energy to 235,000 People

Landmark Solar and Battery Project in Senegal to Deliver Clean Energy to 235,000 People

(IN BRIEF) An EUR 84 million investment will fund the development of two photovoltaic solar plants with integrated battery energy storage systems (BESS) in Senegal’s Kolda region, providing clean energy to 235,000 people. Spearheaded by the Emerging Africa & Asia Infrastructure Fund (EAAIF), FMO, and DEG, the project will be the largest of its kind in West Africa, with a 60 MW capacity and 72 MWh battery system for grid stabilization. Scheduled for completion in 2026, the initiative aligns with Senegal’s goal of 40% renewable energy capacity by 2030. It will reduce reliance on fossil fuels, improve energy access, and foster economic growth in underserved areas, including Casamance.

(PRESS RELEASE) THE HAGUE, 16-Nov-2024 — /EuropaWire/ — In a groundbreaking move for renewable energy in West Africa, an EUR 84 million investment has been announced for the development of two photovoltaic solar plants with integrated battery energy storage systems (BESS) in Senegal’s southern Kolda region. Spearheaded by the Emerging Africa & Asia Infrastructure Fund (EAAIF) and the Dutch entrepreneurial development bank (FMO) as Co-Mandated Lead Arrangers, alongside Deutsche Investitions- und Entwicklungsgesellschaft (DEG), this initiative represents a pivotal step toward Senegal’s goal of achieving 40% renewable energy capacity by 2030.

Largest Solar-Battery Project in West Africa

The Kolda solar farm project, with a total investment exceeding EUR 105 million, stands out as the largest photovoltaic facility with battery storage in the region. Scheduled for completion in 2026, the project will feature a solar capacity of 60 MW, supplying clean electricity to an estimated 235,000 people. The 72 MWh battery system will stabilize the power grid, providing up to three hours of backup during peak evening demand, and enhancing the integration of renewable energy into Senegal’s grid infrastructure.

Benjamin Memmi, CEO of AXIAN Energy, emphasized the transformative potential of the project:
“The Kolda solar farm embodies our commitment to energy inclusion in Senegal and beyond. This fully renewable initiative will provide clean energy to around 25,000 households in Casamance while advancing battery storage technology to optimize grid stability and resource utilization. We are deeply thankful for the support of our financial partners and the Senegalese authorities in making this vision a reality.”

Driving Energy Inclusion and Economic Development

The initiative not only addresses the urgent need for reliable and sustainable energy but also contributes to the economic development of Senegal’s underserved Casamance region. By reducing reliance on fossil fuels, the project is poised to cut emissions, enhance energy security, and create local job opportunities.

Tidiane Doucoure, Director at Ninety One Group, fund manager for EAAIF, highlighted the project’s broader implications:
“This investment in renewable energy and critical battery storage aligns with Africa’s low-carbon transition goals. The Kolda project exemplifies our commitment to transformative infrastructure that delivers meaningful social and environmental benefits.”

Partnering for Senegal’s Renewable Future

FMO’s Co-Chief Investment Officer, Huib-Jan De Ruijter, underscored the significance of the partnership with AXIAN Energy:
“This is a milestone for FMO as it marks our second solar PV and BESS project in Senegal. By advancing grid stability and expanding clean energy access, this project strengthens Senegal’s energy mix and reinforces our commitment to sustainable development in Africa.”

Monika Beck, DEG Management Board member, added:
“This project illustrates the shift from fossil fuels to cleaner energy solutions, electrifying rural areas and creating the foundation for long-term economic growth.”

A Step Toward Sustainability

As the largest solar and battery project in West Africa, the Kolda solar farm will serve as a blueprint for renewable energy advancements in the region. With its ability to deliver clean power, improve grid reliability, and foster economic development, the initiative represents a significant stride toward a sustainable energy future for Senegal and beyond.

Media Contacts:

Monica Beek
Media Spokesperson
T: +31 6 4663 7868
M.Beek@fmo.nl

Paul Helsloot
T: +31 6 1847 9655
P.Helsloot@fmo.nl

SOURCE: FMO