HomeNewsOver US$ 41M Financing Agreement Signed For Djermaya Solar Project in Chad

Over US$ 41M Financing Agreement Signed For Djermaya Solar Project in Chad

InfraCo Africa recently signed an over US$ 41M financing agreement for the development of the proposed Djermaya Solar Project in Chad.

InfraCo is a London based development company and a part of the Private Infrastructure Development Group (PIDG) funded by governments of the UK through Foreign, Commonwealth & Development Office (FCDO), the Netherlands through Directorate-General for International Cooperation (DGIS), and Switzerland through State Secretariat for Economic Affairs (SECO).

Other funding commitments

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This funding adds on the slightly over US$ 20M funding committed by African Development Bank (AfDB), the US$ 10.5M committed by Proparco, a subsidiary of the French development agency dedicated to the private sector, and the US$ 10.5M committed by Emerging Africa Infrastructure Fund (EAIF), a fund of PIDG managed by UK asset manager Ninety One.

According to InfraCo, Boston-based energy private equity investor, Denham Capital has also come on board as a “long-term investor,” via Casablanca-based, sub-Saharan Africa-focused renewables developer Neo Themis.

InfraCo did not specify Denham’s financial commitment however Fatou Gaye, InfraCo’s business development manager for the Chadian project, said that Denham and Neo Themis will “progress the project through to construction and operations in the coming months.”

Djermaya Solar Project overview

Djermaya Solar Project which includes a Battery Energy Storage System (BESS) of 4 MWh, has a total capacity of 60 MWp and it is planned to be implemented in two phases, the first of which is 32 MW and the second 28 MW.

Also Read: US$ 6.8M for Construction of Solar Hybrid Power Plants at Mongo and Ati, Chad

Upon completion, the Djermaya Solar power plant will supply electricity to more than 25,000 people through the Société Nationale d’Electricité/National Electricity Company, Chad, owned grid thanks to a 20-year power purchase agreement signed in 2019.

The facility, other than supplying electricity will help reduce carbon emissions by 38,000 tonnes per year.

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