ZAMBIA - Ilute 25mw Solar PV (Sefa Covid-19 IPP Relief Programme)

The project is being developed by Serengeti Energy Ltd and Western Solar Power Ltd. Since 2021; the project has experienced rising costs due to the COVID-19 pandemic and additional work requirements. The SEFA Covid-19 IPP Relief Programme has been instrumental in addressing these challenges. SEFA’s USD 8 million concessional loan will bridge the viability gap and restore the project’s financial sustainability while also supporting a pioneering initiative with strong demonstration potential. SEFA’s involvement also helped mobilize additional financing from the Dutch entrepreneurial development bank, FMO, which provides both subordinated and senior loans. The project contributes to climate finance, with100% of the total approved amount dedicated to mitigation.