MIGA, a member of the World Bank Group, has issued a guarantee of US$105.4 million in support of the construction of the first wind farm in Senegal. The Parc Eolien Taiba N’diaye SA wind farm will be made up of 46 turbines, providing some 158.7MW to the national grid in about two years from now.
The guarantee is issued for up to twenty years to project owner Lekela Power Holdings against the risks of Expropriation, Transfer Restriction and Inconvertibility, Breach of Contract, and War and Civil Disturbance.
Power generated from the farm will be sold at a competitive rate in line with grid-connected renewable energy prices in Africa.
The wind farm is located in Taiba Ndiaye, approximately 70km north of Dakar, capital of Senegal. Once operational, it will provide over 450,000 MWh of energy per year to over two million people and save over 300,000 tonnes of CO2 emission into the atmosphere per year.
Country updates
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September 03, 2018
Vestas to construct 159 MW wind farm in Senegal
Vestas has announced that it has signed an engineering, procurement and construction (EPC) contract for the 159 MW Taiba N’Diaye wind farm, Senegal’s first large utilit...
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July 31, 2018
Largest wind farm in West Africa reaches financial close
Lekela has announced that it has successfully reached financial close on the Taiba N’Diaye wind power project in Senegal. This will deliver the country's first utility-sc...
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June 13, 2018
MoU signed for US$1 billion renewable projects in West Africa
Multinational renewables developer Gigawatt Global Cooperatief has signed a Memorandum of Understanding with the Economic Community of West African States (ECOWAS) to invest US$1 billio...
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June 01, 2018
Lekela has hired Massaer Cisse, previously a director at Deloitte, Senegal, to manage the wind farm project as it reaches financial close, starts construction and begins operation
Lekela has hired Massaer Cisse, previously a director at Deloitte, Senegal, to manage the wind farm project as it reaches financial close, starts construction and begins operation. Cisse will also be tasked with maintaining relations with local stakeholders, including the government and Senelec, as well as assisting Lekela's business development in the region
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May 30, 2018
AfDB and partners to install 10 GW solar power in Africa
The African Development Bank, the Green Climate Fund (GCF) and the Africa50 investment fund signed a letter of intent to collaborate on the Desert to Power programme on the sidelines of the Bank&rsquo...
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