Meridiam continues to deploy its impact Fund in Africa, with the financing of a second solar plant in Senegal
The French group Meridiam, a world leader in long-term private investment in public infrastructure, has completed the financing of a 30MWc photovoltaic centre, the second of its kind in Senegal.
After opening up Senegal’s solar market with the Senergy solar plant, which is planned to become active in early 2017, Meridiam confirms its ambition to become a key actor in the sector through the development of this second solar project, named Ten Merina, in association with the French construction companies Eiffage and Solairedirect, a subsidiary of Engie which specialises in solar energy.
The total cost of the project is an estimated 43 million euros. The plant will provide the electrical equivalent of the annual consumption of 200 000 inhabitants at a more competitive price than that of the country’s thermal power plant. Proparco and BIO, the Belgian financial institution for development, have given the project a loan of 34.5 million euros over 18 years in order to finance its construction and operation.
The Ten Merina plant will be located 10 km from the Senergy centre, in the Thiès region, East of Dakar.
“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,” declared Thierry Déau, founder and Chief Executive Officer of Meridiam.