Ambatolampy Solar Plant Expansion

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The project involves the expansion of the Ambatolampy Solar PV Plant located in the Vakinankaratra region, Madagascar. The capacity of the expansion will be 20MW, including a 5MW battery energy storage system. Energy is sold to national utility JIRAMA through a 25-year PPA. The project will provide improved electricity access to around 285,000 people supporting SDG 7 and reduce emissions by 34,000 tonnes of CO2 through the displacement of thermal power supporting SDG 13. The sponsors of the project are Axian and GreenYellow. The debt providers on the $10.7 million, 9-year credit facility are Banque Nationale d'Investissement Madagascar (BNI) and BFV Société Générale Madagascar. A total of $7.4 million in guarantees were provided by GuarantCo and the African Guarantee Fund. The total cost of the project is $18 million. Financial close was achieved in January 2023. https://fr.greenyellow.com/en/news/credit-facility-support-debt-funding-largest-solar-power-plant-madagascar-and-indian-ocean;