KfW IPEX-Bank finances electrification of 300 villages in Senegal
News from 2018-11-06 / KfW IPEX-Bank
KfW IPEX-Bank is financing electrification of 300 rural villages in Senegal. The planned technical approach envisages the generation and provision of electricity by means of decentralised solar power systems and energy stores, power distribution via low-voltage supply lines, LED street lighting and house connections. The ECA-covered financing amounts to a total of EUR 130 million.
Financing through KfW IPEX-Bank supports German exports, as the project will be implemented by the Nuremberg-based firm GAUFF & Co. Engineering KG. The local client is the Senegalese Agency for Rural Electrification, or ASER. The project will have a direct impact on sustainable and environmentally friendly development in the area. GAUFF & Co. Engineering KG has entered into an agreement with GIZ regarding the project; its goal is to transfer expertise to local partners and users.
The financing agreement was signed on 30 October 2018 in Berlin as part of the G20 Investment Summit – German Business and the CwA Countries and is part of an ECA framework agreement with the Senegalese Ministry of Finance.