The African Development Bank Group has taken a significant leap toward renewable energy in Africa by approving a funding package of €28 million aimed at developing solar power plants in Chad. This initiative is part of the ambitious Desert to Power program, which is designed to enhance energy accessibility across the continent, addressing the urgent need for sustainable energy solutions.
This latest funding includes a €20 million direct investment that combines both a loan and a grant from the Sustainable Energy Fund for Africa, along with an additional €8 million in financial guarantees. The financial guarantees are equally provided by the African Development Fund and the Green Climate Fund, which each contribute €4 million to bolster this forward-thinking clean energy project.
The solar initiatives in Gassi and Lamadji are expected to markedly increase Chad’s energy supply by 20%, moving the nation away from reliance on costly, fossil fuel-based energy sources toward cleaner alternatives. The project involves constructing two solar power plants near N’Djamena, each capable of generating 15 megawatts peak electricity. Beyond just building the plants, there are plans to establish new power stations, create connection lines, and install a robust 6-megawatt-hour battery system. This means that energy storage will be utilized effectively, ensuring that power is available even when the sun isn’t shining. The total expenditure for this green venture is estimated to be around €41 million, with additional funds anticipated from various Development Finance Institutions (DFIs).
Kevin Kariuki, Vice President of the Power, Energy, Climate, and Green Growth complex at the African Development Bank, emphasized the significance of this project. He stated, “The Gassi and Lamadji solar project is a landmark development that underscores Chad’s strong commitment to renewable energy under the Desert to Power Initiative. The project is not only about increasing energy access; it is also about driving local economic growth and enhancing the country’s energy security.”
Wale Shonibare, the Bank’s Director of Energy Financial Solutions, Policy, and Regulations, echoed these sentiments, highlighting how this pioneering solar project serves as a catalyst for the vast renewable energy potential that exists within the Sahel region. He noted that strategic partnerships like this one exemplify how innovative solutions can spearhead the energy transition and promote sustainable development across the board.
This initiative is an exciting step in the right direction for Chad, positioning it as a leader in solar energy adoption and promising increased investment prospects in the renewable sector.
Tags: #Chad #SolarEnergy #RenewableEnergy #AfricanDevelopmentBank #DesertToPower #SustainableDevelopment #WorldNews #Tourism
