Senegal has announced a partnership with several countries and the EU to accelerate renewable energy deployment, receiving €2.5 billion (US$2.71 billion) new and additional financing starting from 2023.
Pay-as-you-go solar company Bboxx has gained access to four additional African markets with the acquisition of distributed energy resources provider PEG Africa.
World Bank’s IFC, the EIB and Proparco pour €38 million into PPA-backed projects contracted last year at €0.0380-0.0398/kWh, paving way for construction.
A number of international initiatives have helped large-scale solar gain a foothold in Africa. The question now is how the market for this segment will develop beyond these programmes and how much capacity grids will be able to support.
CORRECTION: French power giant Engie and investment firm Meridiam have been awarded two solar PV projects totalling 60MW(AC) in Senegal with record low prices ranging between Euro cents 3.80-3.98/kWh.