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Africa Energy Eniday Uncategorized

IFC’s Scaling Solar solutions across Africa

The International Finance Corporation‘s (IFC) Scaling Solar procurement program is developing over 1,000 megawatts of solar power in four African countries – Zambia, Ethiopia, Madagascar and Senegal. Part of the World Bank, the International Finance Corporation (IFC) provides financial and advisory support to Africa’s governments, utilities and independent power producers (IPPs) to develop solar power generation…

Solar procurement program

Putting a solar panel together

The Scaling Solar program encompasses a comprehensive package of technical support, document templates, pre-approved financing, insurance products and guarantees that make it easier for African governments to develop large-scale solar projects with private financing. The Scaling Solar program has the financing support of The United States Agency for International Development’s (USAID) Power Africa, the Private Infrastructure Development Group, the Ministry of Foreign Affairs of the Netherlands, the Ministry of Foreign Affairs of Denmark and the UK Department for International Development. The Scaling Solar project in Senegal also received generous support from The Rockefeller Foundation.
These international finance corporations combine best-in-class procurement practices based on the experience the IFC and World Bank have gained in the past three decades. Programs are adjusted to meet the specific requirements and needs of the project involved.
An increasing number of African governments and utilities are taking an interest in adding grid-scale solar to their electricity mix because of a rapid decline in the cost of such technologies. The availability of a reliable and affordable energy supply is essential for business investment and employment and is directly linked to an increase in GDP growth. According to CEO of Nigeria’s Dangote GroupAliko Dangote, “In Africa, only in South Africa and Ethiopia, we don’t produce power. In all the other countries, we produce our own power for our businesses”. To read more

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