Climate Fund Managers (CFM) has entered into a Joint Development Agreement with Energy Resources Senegal (ERS) to develop a 30 MW Solar PV and 15MW/45MWh battery storage system in Niakhar, Senegal.
The Niakhar project will be Senegal’s first solar plant with a large battery storage system. Once developed, the project represents an opportunity of approximately US$40 million for Climate Investor One’s Construction Equity Fund, the main construction financing vehicle under the management of CFM.
The project promoter, ERS, is emerging in energy development in Senegal and Western Africa, with an objective to realize 500MW in various types of energy projects by 2025.
ERS and CFM will develop, construct, own and operate the hybrid power project, with CFM acting as E&S and technical advisor throughout the development process.
