Meridiam finances second 30MW solar plant in Senegal

The project cost is estimated at €43 million and it is expected to supply electricity for the equivalent of 200,000 people at a lower price than thermal power. Flickr: Angel Hernansaez

France-based investment firm Meridiam has completed financing of its second 30MW solar PV plant in Senegal.

The latest investment, known as the Ten Merina solar project, will be developed in partnership with French construction companies Eiffage and Solairedirect, a subsidiary of Engie.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The project cost is estimated at €43 million and it is expected to supply electricity for the equivalent of 200,000 people at a lower price than thermal power.

Proparco and BIO, the Belgian financial institution for development, have also given the project a loan of €34.5 million over 18 years to finance construction and operation.

Meridiam’s first Senegal investment, known as the Senergy solar plant, is planned to become active in early 2017. Ten Merina will be located just 10km away from Senergy in the Thiès region, east of Dakar.

Thierry Déau, founder and chief executive of Meridiam, said: “Developed in line with Meridiam's goals in Africa, this project is once again highly representative of the considerable attention that we pay to the impact of infrastructure investments. We are producing electricity at a low price and reducing greenhouse gas emissions, all while ensuring that local populations see these economic benefits.”

The government of Senegal plans to develop 200MW of solar power as part of the World Bank Group’s initiative ‘Scaling Solar’.

Read Next

May 1, 2024
Wiki-Solar's latest figures show that the world’s top 34 EPC contractors are now responsible for a combined portfolio of more than 100GWac.
April 17, 2024
The European Space Agency (ESA) will present an initiative aiming to deliver space-based solar power at a conference in London this week.
March 21, 2024
Independent power producer (IPP) Sonnedix has inked a framework agreement with European engineering and construction companies Eiffage.
March 8, 2024
Engie Brasil Energia has finalised its acquisition of a 545MWac Brazilian solar PV portfolio from Miami-headquartered renewables developer Atlas Renewable Energy.
February 28, 2024
Engie North America – a regional subsidiary of French energy company Engie – has closed US$1 billion in tax equity financing to support a 1.3GW portfolio of solar PV and wind assets across the US.
February 21, 2024
Schneider Electric has invested in a portfolio of ENGIE solar-plus-storage projects in Texas through a Tax Credit Transfer Agreement.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA
Solar Media Events
October 15, 2024
Santiago, Chile