ENGIE and its investment partner Meridiam were selected in April 2018 by the Regulatory Commission of Electricity Sector (CRSE) in Senegal, in a call for tenders launched in October 2017 for two solar photovoltaic projects, representing a total power 60 MW.
Both projects are part of the Scaling Solar initiative, jointly led by the Senegalese authorities and the International Finance Corporation (IFC, member of the World Bank Group) in Senegal. These projects are located in Kahone, in the Kaolack region and in Touba-Kaël, in the Diourbel region.
ENGIE and Meridiam will each hold a 40% stake in the project company. The Senegalese sovereign fund, FONSIS, will also hold a 20% stake. The construction and operation of the plants is directed and executed by ENGIE.
In November 2018, ENGIE signed a Power Purchase Agreement with SENELEC, Senegal's national electricity company, which will be valid for 25 years, starting from the commissioning of the project.
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