The Senergy solar power project was initially developed by a local company, Senergy SUARL, which signed a 25-year Power Purchase Agreement (PPA) with SENELEC in June 2014.
Meridiam then joined this local developer with FONSIS to finalize the development of the project, structure and raise the necessary financing.
The project consists in designing, building, maintaining and operating the solar power plant throughout the life of the PPA.
Senergy PV SA has since become a Société Anonyme under Senegalese law that built and operates one of the largest photovoltaic plants in West Africa with a capacity of 29.5 MWp in Santhiou Mekhe, a village located 125 km northeast of Dakar. This solar power plant was completely built in March 2017 and its operation began in August 2017.
The project company also built a 9.5 km medium voltage line to connect the solar power plant to the nearest power substation.
All Senelec's commitments in the PPA are taken over by the State. Proparco provided the entire debt for € 34m (22.4 billion FCFA) in a total financing plan of 28 billion FCFA.