Kolda solar farm (60MW)

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The project comprises the construction of Kolda solar farm, located in Kolda region, also called Haute Casamance, Southern Senegal. The facility consists of 60MW solar PV energy, located at two sites and 72MWh battery energy storage system (BESS). The sponsor is AXIAN Energy. The overall investment volume is over $110.7m (EUR 105m), of which $88.55m (EUR 84m) of debt, with $32.15m (or EUR 30.5m) provided by each of Emerging Africa & Asia Infrastructure Fund (EAAIF) and the Dutch entrepreneurial development bank (FMO), and $24.25m (EUR 23m) by the German Investment Corporation Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG). The EAAIF and the FMO acted as Co-Mandated Lead Arrangers. It will provide clean, reliable energy for 235,000 people in Senegal. The investment supports Senegal’s drive to reach 40% of renewable energy capacity by 2030. The solar plant is scheduled for completion in 2026. The 72 MWh battery storage will help to safeguard the supply of power for up to three hours during evening peak times and increase the stability of the power grid. https://www.fmo.nl/news-detail/4f788f93-01b4-457f-9ec8-7e3e98ce6dac/eaaif-fmo-and-deg-provide-eur-84-million-to-axian-energy-to-finance-a-60mw-solar-energy-and-72mwh-energy-storage-system-in-senegal#:~:text=NEWS-,EAAIF%2C%20FMO%20and%20DEG%20provide%20EUR%2084%20million%20to%20AXIAN,energy%20storage%20system%20in%20Senegal&text=The%20project%20will%20provide%20clean,for%20235%2C000%20people%20in%20Senegal. ; https://reglobal.org/eaaif-fmo-and-deg-to-invest-e84-million-in-axian-energy-for-solar-and-ess-project-in-senegal/ ; https://mediaroom.axian-group.com/actualite/eaaif-fmo-and-deg-provide-eur-84-million-to-axian-energy-to-finance-a-60mw-solar-energy-and-72mwh-energy-storage-system-in-senegal https://www.fmo.nl/news-detail/4f788f93-01b4-457f-9ec8-7e3e98ce6dac/eaaif-fmo-and-deg-provide-eur-84-million-to-axian-energy-to-finance-a-60mw-solar-energy-and-72mwh-energy-storage-system-in-senegal#:~:text=NEWS-,EAAIF%2C%20FMO%20and%20DEG%20provide%20EUR%2084%20million%20to%20AXIAN,energy%20storage%20system%20in%20Senegal&text=The%20project%20will%20provide%20clean,for%20235%2C000%20people%20in%20Senegal. ; https://reglobal.org/eaaif-fmo-and-deg-to-invest-e84-million-in-axian-energy-for-solar-and-ess-project-in-senegal/ ; https://mediaroom.axian-group.com/actualite/eaaif-fmo-and-deg-provide-eur-84-million-to-axian-energy-to-finance-a-60mw-solar-energy-and-72mwh-energy-storage-system-in-senegal