Climate Fund Managers (CFM) has entered into a joint development agreement with Energy Resources Senegal (ERS) to develop a 30 MW solar photovoltaic and 15 MW/45 MWh battery storage system in Niakhar, Senegal.
Senegal’s installed capacity is currently largely driven by expensive heavy fuel oil fuelled thermal power. The country is one of the first to pass a renewable energy law in West Africa and is regarded as one of the trailblazers in the renewable energy sector. With the intention of increasing generation capacity and the share of renewables in the country’s energy mix, the government of Senegal has started exploring renewables with storage as a possible solution to meet growing demand.
The Niakhar project will be Senegal’s first solar plant with a large battery storage system. Once developed, the project represents an opportunity of approximately US$40 million for Climate Investor One’s construction equity fund, the main construction financing vehicle under the management of CFM. The project promoter, ERS, is emerging in energy development in Senegal and Western Africa, with an objective to realise 500 MW in various types of energy projects by 2025. ERS and CFM will develop, construct, own and operate the hybrid power project, with CFM acting as technical advisor and excess and surplus throughout the development process.
As Senegal’s major hybrid solar power plant with battery storage, the project will pave the way for further applications of this technology not only in Senegal, but also in other African countries with ambitions to increase their reliance on flexible renewable energy solutions. The project will provide cleaner energy to the grid, displacing some of the more expensive and carbon intensive energy sources. In addition, the project will add base load capacity, improving overall grid stability.
Read the article online at: https://www.energyglobal.com/special-reports/17112020/cfm-and-ers-to-develop-senegals-first-solar-project-with-battery-storage-system/