African Development Bank to support utility scale solar in Sahel
Post date: 23/02/2022 - 15:38
The African Development Bank Group has approved $379.6 million to support the »Desert to Power G5 Sahel« financing facility. The facility will focus on utility-scale solar generation and energy storage solutions through independent power producers in Burkina Faso, Chad, Mali, Mauritania, and Niger. These investments will be backed by technical assistance over the next seven years. The financing is expected to result in 500 MW of additional solar generation capacity and facilitate electricity access to some 695,000 households.
The Board of the Green Climate Fund approved $150 million in concessional resources in October 2021 for the facility, which is expected to leverage around $437 million in additional financing from other development finance institutions, commercial banks and private sector developers.
The facility will be implemented as part of the broader Desert to Power initiative, a flagship program led by the African Development Bank. The objective is to power the Sahel region by adding 10 GW of solar generation capacity and providing electricity to around 250 million people in 11 countries by 2030.