ASER Solar Rural Electrification Project

  • Mitigation
  • Under implementation
Date approved
21 Aug 2020
Est. completion
28 Mar 2028
ESS Category
Category B
Financing
Public sector
Entity
Banque Ouest Africaine de Développement (West African Development Bank)

Overview

While almost all of Senegal’s urban areas have access to electricity, about 58 percent of people in rural areas do not. For basic energy needs, these households mainly rely on fuelwood for cooking, and kerosene lamps for lighting. This is expensive and causes health and environmental hazards.

This project supports the Senegalese government’s aim to achieve universal energy access by 2025. The main causes of low electricity usage rates in the countryside are high upfront investment costs and prohibitive operational costs to run remote electricity assets, tied to low and widely dispersed electricity consumption. GCF will provide the concessional financing needed to mobilise private sector participation in providing rural households with access to modern solar-powered mini-grids in 1,000 isolated villages. Based on a public private partnership business model for investing and operating small scale green mini grids, it will promote jobs creation and include a green stimulus package to support COVID-19 recovery.  

Result areas

Project timeline

  • Pipeline

    437 days

    • Concept note received

    • Funding proposal received

    • Cleared by GCF Secretariat

    • Cleared by iTAP

  • Approved

    769 days

    • Approved by GCF Board

    • Legal opinion on AE's Internal Approval

    • FAA executed

  • Under implementation

    1,357 days so far

    • FAA effective

  • To be completed

    652 days to go

    Not started

  • Total project value $ 231 million

  • Tonnes of CO2 equivalent avoided 1.1 million

Financing

GCF-financing

0.0%

USD

Co-financing

0.0%

USD

USD 231 million

Show details

GCF-financing

29% disbursed

  • Grant USD 2,121,105.76
  • Loan USD 85,712,059.93
  • Total GCF-financing USD 87,833,165.69

Co-financing

  • Loan USD 17,748,093.04
  • Loan USD 119,209,200.66
  • Grant USD 6,526,693.91
  • Total co-financing USD 143,483,987.61

Documents

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