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 providesboth subordinated and senior loans.