Lekela, a renewable power generation company that delivers utility-scale projects across Africa, announced Monday that it successfully reached a financial close on its Taiba N'Diaye wind power project in Senegal.
'Construction will shortly begin on the country's first utility-scale wind farm – delivering up to 158.7 megawatts (MW) of much-needed clean, reliable, and competitively-priced energy to the rapidly expanding local grid,' a press release read.
Once the project is fully operational in less than two years' time, it will provide over 450,000 megawatts-hour of energy on an annual basis for over two million people, it added.
Situated 70 km (44 miles) north of capital Dakar, the project, which will operate under the name Parc Eolien Taiba N’Diaye, will consist of 46 Vestas wind turbines, each able to produce 3.45 MW.
It forms a critical component of the Senegalese government’s strategy to increase clean electricity production, diversify the country’s energy mix, and ensure affordability, according to the statement.
The project is expected to save over 300,000 tons of carbon dioxide emissions into the atmosphere per year.
Lekela's Chief Operating Officer Chris Ford called the deal 'a major milestone' for Senegal, and for Lekela.
'As the first utility-scale wind power project in the country, Taiba N'Diaye forms a critical component of Senegal's clean energy strategy. The project will create an impact that lasts for generations,' he said.
CEO Chris Antonopoulos noted a growing demand for competitively-priced clean power across the continent.
'Renewable energy sources like wind and solar are quick to build and use natural resources that are abundant in many African countries, rather than relying on importing costly fossil fuels.
'The challenge is bringing together the technical, financial and development expertise required to turn these opportunities into reality,' he said.
Financing for the project was provided by The Overseas Private Investment Corporation (OPIC), the U.S. government's development finance institution and EKF, Denmark's Export Credit Agency.
International financial institution MIGA provided political risk insurance, and Power Africa - the U.S. aid initiative that supports Senegal’s power sector through a diverse set of financial and technical assistance - also supported the project’s development.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr