The loan – offered alongside BIO’s French counterpart Proparco – to the Ten Merina Ndakhar (Tenergy) project aims at financing the development, construction and operation of a photovoltaic power plant of 20 MWAC capacity over a 25 years period. The solar project is located on 83 hectares in the commune of Merina Ndakhar (Thiès Region), about 120 km north-east of Dakar, Senegal. All the electricity produced will be sold to the Senegal National Company of Electricity (SENELEC) in accordance with the terms of the power purchase agreement signed between the parties.

Development impacts

• Local economic growth: The annual taxes paid by Ten Merina are estimated at € 1,141,000.
• Private sector consolidation/innovation: Promoting the development of industry through a yearly addition of 50 GWh of electricity to the network; Reduction of electricity production cost; Strengthening of the electricity sector through the addition of 4.5% of the total capacity installed in the country; Increased transparency regarding the energy mix, as the cost of electricity is known for the next 25 years.
• Access to basic services by reducing the energy deficit and limiting power cuts.
• Fight against climate change & preservation of natural resources: The project avoids the emission of 33,000 tonnes of CO2 /year.

This project was inaugurated on the 18th of January 2018.

This project was discussed in Jeune Afrique and visited by the Belgian Prime Minister and the Minsiter for Development Cooperation.