The World Bank's International Finance Corporation (IFC, Washington D.C.) on July 9th, 2015 announced that IFC InfraVentures, the global infrastructure project development fund, and Scatec Solar (Oslo, Noeway), an integrated independent solar power producer, have signed documents to develop the USD 55 million Scatec Segou solar photovoltaic (PV) project in Mali with a local developer, Africa Power 1.
The PV plant is expected to increase the renewable energy component of Mali’s power supply, helping to advance the country’s ambitions energy development goals.
33 MW greenfield solar PV project in Segou
The Scatec Segou solar PV project comprises the development, construction and financing of a 33 megawatt (MW) greenfield solar photovoltaic project located in Segou, 240 kilometers from Bamako. IFC will invest USD 12.5 million for its own account in addition to USD 2.5 million already spent for a 20 percent equity stake in the project company.
The PV project will add much-needed generation capacity to the national grid, helping to reduce the supply shortage and further strengthening the private sector participation in the power sector.