Everoze was delighted to be appointed by Meridiam and Engie to act as technical advisor with duty of care to the lenders for the financing and construction of the Kahone and Kael solar power projects located in Senegal, West-Africa. The projects are jointly financed by Proparco, IFC (World Bank group) and EIB (European Investment Bank).
As part of the Scaling Solar program (a World Bank Group’s initiative which aims to assist African countries in procuring clean and affordable renewable energy), the two projects will become the 7 and 8 largest solar power plants constructed in Senegal. With a combined total capacity of 60MWac, the plants will provide 600,000 people with better and cheaper access to renewable electricity. Connection to the national grid is scheduled for mid-2020.
Everoze provided technical due diligence services and ad hoc technical support to the sponsors and lenders during the financing process and has also been contracted to provide ongoing support during the construction, commissioning and operational phases of the projects, scheduled to start shortly.
Antoine Chevalier, Investment Officer at Proparco, said: “It was great to benefit from Everoze’s technical expertise on these projects. Everoze showed extensive knowledge and experience in solar and we look forward to continuing our collaboration during the next phases of the projects.”
Arnaud Eté, Partner at Everoze, said: “We are delighted to be play a part in the development of the Kahone and Kael projects in Senegal. With already several solar power plants in operation and ambitious plans for the future, Senegal demonstrates its desire to combine rapid economic growth with a sustainable energy policy. “