About Senegal energy storage project investment
Built with an estimated investment of €40 million (US$46.5 million), the project was funded by Africa REN, Dutch development bank FMO, and the Private Infrastructure Development Group (PIDG)—partially through its Emerging Africa & Asia Infrastructure Fund (EAAIF).
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About Senegal energy storage project investment video introduction
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6 FAQs about [Senegal energy storage project investment]
Does axian energy have a solar-plus-storage project in Senegal?
Madagascar-based Axian Energy has obtained €84 million ($89.2 million) of financing for a solar-plus-storage project, featuring a 60 MW solar plant and a 72 MWh battery energy storage system (BESS) in southern Senegal.
Who is investing in a solar plant in Senegal?
The Emerging Africa and Asia Infrastructure Fund (EAAIF), Dutch entrepreneurial development bank FMO, and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) have announced an investment in a solar plant with a BESS in Senegal.
How much energy has Senegal added in 6 years?
Within 6 years, Senegal has added more than 345MW of clean power, accounting for nearly a quarter of its energy mix. This is a concrete example of the impact of policy implementation prioritising progress towards net-zero and accelerating energy access to above 70%, the 12th highest in Africa.
How will the energy system work in Senegal?
The system will utilise reserve energy when there are deficits, bring power and grid assets online after failures, and supply electricity to the cities in the northern part of Senegal during power outages.
What is axian energy doing in Senegal?
Axian Energy is developing the Kolda solar project in southern Senegal, scheduled for completion in 2026. The 60 MW system will supply power to about 235,000 people in underserved areas, with battery storage providing up to three hours of power during evening peak times.
How will Senegal's new energy grid work?
FMO board member Huib-Jan De Ruijter said the project will stabilize the grid and offer essential services to Senegal's utility, Senelec, while boosting affordable electricity for people and businesses, particularly in the Casamance region. Senegal has set a target of reaching 40% of renewable energy capacity by 2030.
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