Akuo Energy gets funds for 50-MWp solar project in Mali

The West African Development Bank (BOAD) has taken part in a financing round supporting a 50-MWp solar project in Mali proposed by France-based Akuo Energy SAS.

Financing for the scheme was jointly provided by BOAD, the Emerging Africa Infrastructure Fund (EAIF), Dutch development bank FMO, National Agricultural Development Bank of Mali (BNDA), Green Africa Power (GAP) and GuarantCo. The total size of the credit facility is EUR 77 million (USD 95m), of which BOAD extended XOF 11 billion (USD 20.7m/EUR 16.8m), the lender said in a press release last week.

The proposed photovoltaic (PV) park will be installed by Akuo Akito Solar, a subsidiary of the French company, on a build-own-operate and transfer (BOOT) basis. Once up and running, it will be the first solar plant owned and operated by an independent power producer (IPP) in Mali and also the biggest facility of its kind in West Africa.

The operation of the park in Kita will help save about 1.4 million tonnes of carbon dioxide (CO2) emissions during its lifespan.

(EUR 1.0 = USD 1.234)

(XOF 100 = USD 0.188/EUR 0.188)

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