The Pan-African financial institution Africa Finance Corporation (AFC) has structured US$63 million funding for the development and operation of the 60 MW wind farm near Lake Assal, north-western of the capital Djibouti.
AFC secures investment from Great Horn Investment Holding (GHIH), Climate Fund Managers and the Dutch Development Bank (FMO). The World Bank’s Multilateral Investment Guarantee Agency (MIGA) has provided a financial guarantee.
The company has also secured a 25-year take-or-pay power purchase agreement (PPA) with Électicité de Djibouti.
The project is expected to be operational by 2021.
Country updates
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April 04, 2018
Kuwait Fund for Arab Economic Development (KFAED) has approved a KWD8 million (US$26.5 million) loan for the project, which is scheduled to be completed by the end of 2021
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August 10, 2016
Toshiba and Djibouti's ODDEG sign MOU on geothermal power generation business
Toshiba Corporation has concluded a memorandum of understanding (MOU) with Office Djiboutien de Développement de l'Energie Géothermique (ODDEG) that envisages a comprehensive collaboration in the geot...
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March 10, 2016
Black Rhino Group says Ethiopia-Djibouti fuel pipeline project is feasible
Black Rhino Group, backed by Black Stone Group, has finally proposed to the Ethiopian government to build the 550 km multi-product pipeline from port access in Djibouti to central Ethiopia.
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January 27, 2016
Construction works have begun
Construction works have begun. The first of the 50 MW solar plants is expected to be completed by the end of 2016
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October 07, 2015
SkyPower to build 200 MW solar energy projects in Djibouti
SkyPower has signed a landmark agreement with the Republic of Djibouti for the development of 200 MW of world-class solar projects to be built in four phases in Djibouti over the next four years.
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