Qair secures €37.9 million financing for Chad’s hybrid solar projects
Published by Abby Butler,
Editorial Assistant
Energy Global,
Independent renewable energy company, Qair, has announced the first disbursement of a €37.9 million financing package for the construction of hybrid solar power plants with battery storage, totalling 30 MWp and 8 MWh, located in Gassi and Lamadji, Chad.
These projects were developed under a framework agreement with the Republic of Chad, paired with a 20-year power purchase agreement (PPA) with Tchadelec, the national electricity utility.
The financing was made possible through the commitment of key partners. The African Development Bank (AfDB) and Proparco each provided €15.2 million in loans. Additionally, the Sustainable Energy Fund for Africa (SEFA), managed by AfDB, contributed €6 million in reimbursable grants, while Proparco/Agence Française de Développement added €1.5 million in supplementary funding.
A partial risk guarantee of €8 million, issued by the African Development Fund and the Green Climate Fund, strengthens the project’s financial structure by backing Coris Bank, the issuer of a letter of credit covering Tchadelec’s payments under the PPA. Coris Bank also serves as the onshore account bank and local security agent, while BNY acts as the offshore account bank, offshore security agent, and intercreditor agent.
The Gassi and Lamadji projects highlight Qair’s ability to structure complex, multi-party financing solutions for high-impact renewable energy infrastructure. These projects underscore Qair’s expertise in navigating intricate financial landscapes, securing support from major development institutions, and delivering bankable projects in emerging markets.
Abdoulaye Touré, CFO of Qair Africa, commented: “This financing demonstrates the strong confidence and collaboration between Qair, AfDB, Proparco, and SEFA in delivering impactful renewable energy infrastructure. The Gassi and Lamadji projects are a testament to our ability to structure and execute complex financing solutions, reinforcing Qair’s portfolio in Africa.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global’s Autumn 2026 issue
The Autumn issue of 2026 is available now! The new issue begins with a regional report on Asia Pacific, looking at the region’s transition from building capacity to building systems. The issue also explores topics such as offshore wind foundations, solar maintenance, training the new workforce, inspection & maintenance, and more! With insights from experts such as Everllence, BW Ideol, EM&I, Watson Farley & Williams, and many more, make sure to check out this issue now.
Read the article online at: https://www.energyglobal.com/solar/28092026/qair-secures-379-million-financing-for-chads-hybrid-solar-projects/