ASER Solar Rural Electrification Project (GCF-SENEGALSOLARURAL)

Countries
  • Senegal
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 23, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Senegal
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 79.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 73.6
Converted using 2020-05-05 exchange rate.
Grant Amount (USD)
$ 1.95 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 1.8
Converted using 2020-05-05 exchange rate.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Feb 28, 2021

Disclosed by Bank May 5, 2020


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Project Description

The project proposes a public–private partnership business model for investing and operating small-scale solar mini-grids, which fits with the country context. The shift from “Build, Operate, Transfer” regional concessions to a public pre-financed concession model will result in triple benefits: (1) increased energy access for remote areas of the country; (2) privatesector contribution achieved through lowering the initial investment cost; and (3) realizing a uniform tariff across the country, with an electricity price that aligns with affordability for the poorest. It sets a good example in terms of country ownership, with a significant level of co-financing by the country which then partners with the GCF in de-risking energy access activities to reach levels acceptable to the private sector and affordable to the communities.

Investment Description
  • Green Climate Fund (GCF)
Contact Information

Project contacts not available at the time of disclosure.

ACCESS TO INFORMATION

Requests for project information may be submitted using the IDP Request for Information by email to: disclosure@gcfund.org.

You can also submit an information request using this online form: https://www.greenclimate.fund/about/disclosure/form.  Additionally, if information requested is denied, an appeal can be filed to the Information Appeals Panel: iap@gcfund.org.  You can learn more about the Information Appeals Panel at: https://www.greenclimate.fund/about/disclosure/appeals.

 

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