Scatec Solar are to build new solar power plant in Mali. Norwegian firm Scatec Solar and its partners, the Malian Ministry of Energy and Water and Electricité du Mali have signed a contract to build, own, and operate a EUR52m solar power plant near the city of Segou, Mali.
The 33 MW facility is said to be the first utility-scale solar power plant in West Africa.
The project is being developed in collaboration with World Bank’s IFC InfraVentures, and local project development firm Africa Power 1.
Scatec Solar will own 50% of the ground-mounted photovoltaic (PV) solar plant, World Bank’s IFC InfraVentures will own 32.5%, while Africa Power 1 will own 17.5%.
Scatec Solar will build the facility, as well as deliver operation and maintenance services following the plant’s connection to the grid.
The plant will comprise about 130,000 PV modules on a fixed tilt system and will connect to an existing transmission line, providing clean and affordable energy.
The plant is expected to lower carbon dioxide emissions by nearly 46 000 tons, and is projected to generate sufficient power for 60,000 of the region’s households.
The project will be funded by 45% senior project finance debt, and will also receive a concessional loan for 30% of the total project costs from Climate Investment Fund.
The rest of the project finance will be offered as equity by the project partners.
The project is expected to achieve financial close before the end of this year.
Source: World Construction Network