OPEC Fund loan to back solar project in Niger

The OPEC Fund for International Development (the OPEC Fund) said on Wednesday it is providing a USD-25-million (USD 23.7m) loan to aid a project in Niger that includes the construction of three solar power plants with a combined capacity of 40 MW.

The OPEC Fund is teaming up with the African Development Bank, Power Africa, the Green Climate Fund and the government of Niger for a total financing of USD 167 million for the Niger Solar Plant Development and Electricity Access Improvement Project (RANAA).

The three solar facilities will be located in the Maradi, Dosso and Diffa regions and will benefit more than 750,000 people in Niger, where only about a fifth of the population has access to electricity. The project also includes the extension of 2,600 km (1,616 miles) new transmission lines connecting cities in the country’s south and in the capital Niamey.

The loan from the OPEC Fund will back the construction and grid connection of the 10-MW Dosso solar plant.

“Our support will help Niger increase access to affordable and clean energy and improve the overall capacity of the electricity network, making a real difference in people’s lives,” said OPEC Fund director-general Abdulhamid Alkhalifa as he signed the loan agreement with Niger’s Minister of Finance Ahmat Jidoud.

(USD 1 = EUR 0.948)

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