Scatec Solar signs documents for 33 MW solar project in Mali

Scatec Solar and its partners have signed an amendment to the Segou project concession agreement with the Government of Mali. The project has been awarded economic support from Norad (The Norwegian Agency for Development Corporation), both related to project development and for grid infrastructure investments that will be transferred and operated by EDM after the project is completed.

International Finance Corporation (IFC) and the African Development Bank (AfDB) will provide non-recourse project finance for the project. The financing includes a concessional loan from the Climate Investment Funds under the Scaling Up Renewable Energy Program of approximately US$20 million.

The project signed a Power Purchase Agreement (PPA) with Electricité du Mali (EDM), the national utility in July 2015. Scatec Solar will build, own and operate the solar power plant with a 51% shareholding. IFC Infraventures and Africa Power will hold the remaining part of the equity. Scatec Solar will also be the Engineering, Procurement, and Construction (EPC) provider and will provide Operation & Maintenance as well as Asset Management services to the power plant.

Annual production from the 33 MW solar power plant is expected to be approximately 57 GWh and the clean energy produced by the plant will contribute to offset up to 33,000 tonnes of CO2 annually.