At a Glance
|Start Date||Q1 Aug 1 2019|
|End Date||q1 Dec 24 2020|
|Actual Budget (USD)||43,372|
|Actual Expenditure (USD)||22,855|
|GGGI Share (USD)||43,372|
|Poverty and Gender Policy Markers||poverty, gender|
|Name of Client (Lead/Prime implementer if GGGI is part of a consortium)||The Ministry of Environment and Sustainable Development and the Ministry of Petroleum and Energy|
|Participating Organization (Funding/donor)|
|Name of consortium members, if any|
Project context, objectives and description
Noting the prominence of imported hydrocarbons and wood in the prevailing energy production-consumption mix in Senegal, this project will design a bankable project on the provision of solar PV to support the development of commercial agriculture. Access to renewable energy will support increased revenue flows to producers, as well as produce climate mitigation effects.
The project objective is to introduce solar PV where electrical pumping is currently absent and/or to substitute diesel-powered pumping sets and/or back up national grid sourced power (mostly hydrocarbon). The project will thereby contribute to GHG emission reduction and to generating foreign exchange savings on reduced diesel imports. For the project to be sustainable, specific productive uses of the solar PV electricity by user will be determined: uses and their forecast revenue flows that will feature in the financial model.
GGGI’s role is to develop a business model that will likely be centered around a financing structure being created in which the solar PV assets are held by an entity (e.g., a bank or a special purpose vehicle) that enters into a contract with one or more project developers. In turn, the project developer(s) contracts the use of the solar PV to agricultural producers. The producers credit payments for agricultural produce sold to their accounts held at the entity which debits agreed amounts, thereby servicing payments. Creditworthy purchasers of produce from established agricultural producers will thus be the primary repayment source, where those payments are hypothecated to the entity.
Type of services provided, and results achieved
Impact: Contribute to Senegal’s goal of universal electricity access in 2025.
Project Outputs completed in 2019:
i. Green Growth Policies:N/A
ii. Green Investments:N/A
iii. Capacity Building and Knowledge Products: N/A
Number of staff provided
Project Manager: Mamadou Konate
Da Yeon Choi, Josephe Innack, Mark Gibson, MD Mahzuhur Rahman, Amadou Lamine Fall and Romain Brillie.
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