Scatec Solar will own 50% of the power plant and IFC InfraVentures will hold 32.5%, while Africa Power 1 will hold 17.5%. Dr. Ibrahim Togola, the chairman of Africa Power 1 SA and Einstein SolarWorld Prize 2014 victor says: “This is an historical event for Mali, which is on its way to installing the largest solar grid-connected power plant in West Africa”.
The two partners have been working together since late a year ago to develop solar power projects in Pakistan. Oslo-based Scatec Solar said it had signed up to build the €52m unit near the southwestern city of Segou and run it for 25 years. The PPA with the utility is complemented by a Concession Contract with the Government of Mali, granting license to Segou Solaire to operate.
Referring to the price of electricity, the spokesperson added: “First Solar believes this level of pricing is reflective of a trend we are seeing – in the United States and other parts of the world – where lower costs are driving greater demand for solar”.
Berkshire Hathaway’s NV Energy strikes power purchase agreement price of 3.87 cents per kWh for electricity generated by First Solar’s 100 MW Playa Solar 2 project, according to Bloomberg. After several years of development efforts in the region, we can now move forward with the first utility-scale solar IPP in West Africa.
“One of the pillars of the World Bank’s Country Assistance Strategy for Mali is to increase access to energy, a development fundamental”.
Apart from being the majority shareholder in the project, Scatec Solar ASA (SSO) will also be responsible for the financing, turnkey construction, operation and maintenance of the projects. “The participation of Malians in this high profile joint-venture will serve as a model that opens the solar era in West Africa”.
The ground-mounted photovoltaic solar plant will feature about 130,000 modules that generate 60,000 megawatts hour of energy.
Doha, Qatar, July 9, 2015 Richly endowed in solar energy and supported by innovative research and infrastructure development plans, the GCC region has witnessed rapid growth in renewable energy generation and consumption.
The project is expected to take $58 million to complete.
“NV Energy’s faulty accounting puts thousands of local jobs and consumer choice at risk”, said Bryan Miller, co-chairman of The Alliance for Solar Choice. Further, the project has already been granted a concessional loan that will cover 30% of the Capex from Climate Investment Fund through the program “Scaling Up Renewable energy in Low Income Countries Program” (SREP).