Electricity shortages reduce the quality of life and constrain economic growth throughout Sub-Saharan Africa. In Senegal, about half the rural population lacks a reliable source of power and consumers who have electricity pay some of the highest rates on the continent. With about 82 percent of Seneg Contact online >>
Electricity shortages reduce the quality of life and constrain economic growth throughout Sub-Saharan Africa. In Senegal, about half the rural population lacks a reliable source of power and consumers who have electricity pay some of the highest rates on the continent. With about 82 percent of Senegal''s electricity generated from fossil fuels, the country also needs to diversify to cleaner sources of power.
Financing and political risk insurance supported construction of a 158 MW power plant about 50 miles northeast of Dakar. The Taiba N''Diaye plant, the largest wind power plant in West Africa, began operations in February 2020, generating about 15 percent of Senegal''s total installed generating capacity and helping about two million people gain access to power for the first time.
The project has also brought other benefits to the community, creating 650 new jobs, 450 of which are held by locals. In addition, about 20 miles of local roads that were built during construction of the power plant are helping connect local villages and enabling mango farmers in the region to more easily access their groves, which is expected to reduce crop losses and increase farmer incomes.
On the Summit for a New Global Financing Pact, which aims to build a new consensus for a more inclusive international financial system, Senegal and the International Partners'' Group, comprising France, Germany, the European Union, the United Kingdom and Canada, are launching a Just Energy Transition Partnership (JETP) to support Senegal''s energy access and decarbonization efforts.
In a joint declaration, Senegal commits, with the financial and technical support of international partners, to develop and implement an energy strategy for the deployment of renewable energies with a view to reducing emissions from the sector, while enabling fair and resilient development.
Senegal, in liaison with the members of the International Partners'' Group, will prepare an investment plan within twelve months that will identify the investments required and the opportunities to implement the just transition.
The partnership will offer significant opportunities for investment from the private sector, sovereign wealth funds and philanthropic foundations.
To accelerate the deployment of renewable energies, international partners and multilateral development banks will mobilize 2 billion euros of additional new financing over an initial period of 3 to 5 years.
The Summit on a New Global Financing Pact aims to establish a consensus on building a fairer system to fight against poverty, support the green transition and help all nations fulfil the Sustainable Development Goals.
It is in line with the Joint European Strategy Document (2018-2023) for Senegal and fits perfectly with the European Team Initiative "Green Economy in Senegal", of which sustainable cities are a priority. This initiative is also aligned with the Global Gateway initiative which was launched by the European Commission at the end of 2021.
This JETP concluded today with Senegal is the fourth of its kind, following the launch of partnerships with South Africa, Indonesia and Vietnam.
"The multifaceted crises we are experiencing today are straining African economies, particularly in their significant efforts devoted to economic development, access to energy and industrialization. Diversifying our energy sources and our supply chains will increase our resilience. The partnership for a just energy transition (JETP) that we are establishing today with our partners will make it possible to support the Senegalese dynamic that we started several years ago of incorporating renewable energies into our energy mix and securing our energy system thanks to all our natural resources in line with the Paris Agreement." - The President of the Republic of Senegal, Mr. Macky Sall
"France is proud to support the partnership for Senegal''s just energy transition. Thanks to the accelerated deployment of renewable energies, this partnership will enable Senegal to continue its economic development and provide access to energy for the entire population, while setting the country on a low-carbon trajectory. This partnership is in line with the priorities of the Summit for a new global financing pact to meet our common challenges: reconciling development and the fight against climate change." - The President of the French Republic, Mr. Emmanuel Macron
"Germany welcomes today''s signing of a Just Energy Transition Partnership (JETP) with Senegal. This is an important step that confirms Senegal''s ambition to expand renewable energies. This JETP is a milestone along the road to a Senegalese economy that is both climate neutral and socially just." - The Chancellor of the Federal Republic of Germany, Mr. Olaf Scholz
"We are teaming up with Senegal to accelerate investments in clean energy infrastructure, to achieve a low carbon and climate resilient economy. Together, we are supporting a major energy transition, which will benefit people in Senegal and across the world - with access to affordable and reliable renewable electricity, good local jobs, and a healthier planet. I am proud that our Global Gateway strategy supports this partnership." - The President of the European Commission, Ms Ursula von der Leyen
"The UK is delighted to support the Just Energy Transition Partnership with Senegal. Senegal has ambitious plans to drive economic growth and create a more prosperous future, and this partnership will deliver vital investment into Senegal''s renewable energy infrastructure and help provide access to clean and affordable energy for all." - The Prime Minister of the United Kingdom, Mr. Rishi Sunak
"It''s only becoming more and more clear that clean energy is a fundamental component to building an economy that works now and into the future. Climate change knows no borders, and as the world makes progress toward our collective goal of net-zero by 2050, we all need to come together – governments from different regions and the private sector – to drive innovative solutions that ensure our kids and grandkids have access to clean air and clean water, and good jobs. That''s what the JETP model will do in Senegal, and beyond." - The Prime Minister of Canada, Mr. Justin Trudeau
"The EIB is a long-standing partner for Senegal. With Team Europe partners, the EIB is fully playing its role as a Climate Bank by helping Senegal to meet its international commitments under the Climate Change Agreement. We will strengthen our commitment in Senegal and across Africa addressing local needs, in line with the priorities of the European Union" - The European Investment Bank President, Werner Hoyer
"The climate crisis will continue to worsen unless we take bolder action to help developing countries speed up investment in clean energy – and the more we bring the public and private sectors together, the faster we can make progress. The resources and capital this partnership will bring to Senegal will also help drive economic growth and improve public health in the country. It will build on work Bloomberg Philanthropies and partners are doing to spread access to clean energy in Africa and end coal use around the world - and build more momentum in the lead-up to COP28." - UN Secretary-General''s Special Envoy for Climate Ambition and Solutions and founder of Bloomberg L.P. and Bloomberg Philanthropies, Michael R. Bloomberg
"Public and private collaboration is critical to unlocking clean energy investment and supporting the net-zero transition in emerging markets and developing economies. GFANZ is working to remove the barriers to the flow of much-needed private finance to countries showing leadership on transition, particularly through JETPs. As part of this effort, the GFANZ Africa Network is mobilizing private finance to support sustainable and affordable energy across the continent. We look forward to working with the Senegalese government and the IPG in support of the Senegal JETP." - Co-Chair, GFANZ and UN Special Envoy on Climate Action and Finance, Mark Carney,
The EIB has been a strong partner of African countries for more than 55 years. Through EIB Global, the bank is strengthening its presence in Africa. Over the last decade the EIB has provided more than €28 billion for innovative technologies, green energy, water, education, agriculture, telecom, health and business investment in 40 countries across the continent. Since the start of the pandemic alone, the EIB has provided more than €8.5 billion for new private and public investment across Africa.
EIB Global is the EIB Group''s specialized arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
During an official visit to Brussels Macky Sall, President of the Republic of Senegal, accompanied by the Foreign and Economy Minister today met Werner Hoyer, President of the European Investment Bank to discuss public and private investment priorities to tackle the impact of COVID-19, enhance economic opportunities, increase access to clean energy and improve services across Senegal, including in Dakar, secondary towns and rural districts.
Amadou Hott, Senegalese Minister of the Economy, Planning and Cooperation, President of the European Investment Bank (EIB) Werner Hoyer and EIB Vice-President Ambroise Fayolle today formally agreed new financial support of CFAF 75 billion (€114.5 million) for the Republic of Senegal. This new funding is aimed at improving the drinking water supply and promoting integrated solid waste management.
Amadou Hott, Senegalese Minister of the Economy, Planning and Cooperation, and Ambroise Fayolle, EIB Vice-President responsible for Africa, today formally agreed a CFAF 49 billion concessional loan to the Republic of Senegal. It comes on top of a CFAF 200 billion financing mechanism established by Macky Sall, President of the Republic of Senegal, as part of the country''s Economic and Social Resilience Programme.
In the control room of the Cap des Biches power station on the outskirts of Dakar, a framed photograph of Senegal''s president Macky Sall hangs on a wall overlooking a bank of computer screens showing data from the plant''s five generating units.
The presidential portrait hints at the importance of a facility which accounts for about 10 per cent of domestic power generation and acts as a symbol of the country''s progress towards making electricity more reliable and widely available.
"This is the brain of the power station and the engines are its heart," says Gionata Visconti, the plant''s Italian manager, gesturing towards an adjacent building where throbbing combustion engines powered by heavy fuel oil generate 86 megawatts of electricity when running at full capacity.
"Blackouts have dramatically reduced since we started operating in 2016 and electricity prices have decreased," he adds, standing beside a telephone which provides a direct hotline to grid operators at the country''s state-owned power utility, Senelec.
Cap des Biches is run by ContourGlobal, a UK-listed power company. It was developed with $132m of financing from the Overseas Private Investment Corporation (Opic), a US government agency which supports development in emerging markets, and the International Finance Corporation (IFC), the World Bank''s private sector investment arm.
As such, the plant, beside a sandy Atlantic beach with palm trees lining its access road, is a showcase for the combination of private international capital and development finance which has helped overcome the power shortages which until recently bedevilled Senegal.
"The government has put a lot of focus on power production," says Massaer Cisse, senior manager in the Dakar office of Deloitte, the global consultancy. "In the past five years, power generation capacity has increased by 25 per cent."
Senegal has relatively high levels of electricity access compared with the rest of west Africa, with 61 per cent of the population connected to a reliable supply. Yet there is a big divide between the 88 per cent connection rate in urban areas and 40 per cent in the countryside.
About 1.2m households across Senegal have no access to electricity, according to Power Africa, the US development programme aimed at closing the continent''s energy deficit. That leaves the government a long way from its goal of universal access to electricity by 2025. A big expansion in renewable power will be critical.
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