|

EAAIF, FMO, and DEG invest €84 million in Senegal solar projects

By

The Emerging Africa & Asia Infrastructure Fund (EAAIF), the Dutch development bank FMO, and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) have collectively invested €84 million in two photovoltaic solar plants with battery storage systems in Senegal’s Kolda region. 

These projects, operated by Axian Energy, will have a combined capacity of 60 MW with 72 MWh of battery storage to stabilize the grid and support evening peak demands.

The total project cost exceeds €105 million, with debt financing of €30.5 million each from EAAIF and FMO, and €23 million from DEG. 

The projects are scheduled for completion by 2026, contributing to Africa’s green energy initiatives and establishing Senegal as a growing renewable energy hub.

Similar Posts

|

Wardwizard reports financial performance for Q1 FY25

By

Wardwizard Innovations & Mobility Limited reported its financial performance for Q1 FY25, ending in June 2024. The company’s revenue increased to Rs 489.68 million, a 29.23 per cent year-on-year growth. Standalone total revenues rose from Rs 378.93 million in the same quarter of the previous year, while EBITDA jumped 60.13 per cent to Rs 76.48 million, with an EBITDA margin of 15.62 per cent, up by 302 basis points. The profit after tax (PAT) was…

|

Schneider Electric Infrastructure reports 14.3% growth in order backlog

By

Schneider Electric Infrastructure Ltd (SEIL) has reported a 14.3% year-on-year growth in its order backlog, which stood at Rs 13.89 billion as of September 30, 2024. The company also noted robust growth in order inflows during FY25. In Q2FY25 (July to September), SEIL achieved an order inflow of Rs 5.72 billion, a 16.3% increase from Rs 4.92 billion in Q2FY24. For H1FY25 (April to September), order inflows rose by 17.5%, totalling Rs 11.04 billion compared…

|

Hindenburg alleges SEBI head’s past investments linked to Adani Group

By

Hindenburg Research has accused SEBI head Madhabi Puri Buch of previously investing in offshore funds linked to the Adani Group. Buch has dismissed the allegations as baseless, affirming that all required disclosures were properly made. Hindenburg claims that Buch and her husband held stakes in a Bermuda-based fund in 2015, which reportedly had connections to Adani Group associates. The Adani Group rejected these claims, calling them an attempt to tarnish the company’s reputation. The allegations…

|

SSE Thermal, EET Hydrogen to develop green hydrogen facility in North West England

By

SSE Thermal and EET Hydrogen have partnered to build a green hydrogen production facility, named Gowy Green Hydrogen, at the Stanlow Manufacturing Complex in Ellesmere Port, Cheshire. The initial 40 MWe facility will supply hydrogen to local industries and is expected to begin operations by 2028. Feasibility studies are complete, and design and site investigations are currently underway. A planning application is expected in 2025, with a final investment decision to follow. In August 2024,…

|

Ocean Winds selects Wood Thilsted for Caledonia Offshore Wind Farm turbine foundation design

By

Ocean Winds (OW) has appointed Wood Thilsted to develop the structural concept design for turbine foundations at its 2 gigawatt (GW) Caledonia Offshore Wind Farm in the Moray Firth, Scotland. Under this contract, Wood Thilsted will utilize ground and metocean data collected over the past two years from the 429 square kilometre Caledonia site. This data will inform the modeling and design of the preferred foundation concepts. The engineering consultancy will leverage insights from Ocean…

|

EmberClear seeks funding for two 900 MW power projects in Texas

By

EmberClear Management has submitted loan applications to the Texas Energy Fund for two major power projects, each with a capacity of 900 MW. The EmberYork Energy Center in Austin County and the EmberGreen Energy Center in Wharton County will collectively deliver 1.8 GW of natural gas-fired electricity to the Houston area. These plants are strategically located near large interstate natural gas pipelines and significant storage facilities, ensuring a reliable gas supply. Both facilities are connected…

Leave a Reply

Your email address will not be published. Required fields are marked *