The Overseas Private Investment Corporation (OPIC) will financially support Lekala Power develop the Taiba N’Diaye wind station in Senegal. The US finance institution has revealed during the African Business Forum in New York it woud provide $250 million in financing and $70 million in reassurance to the 158 MW project.

“OPIC partnering with Lekela illustrates the opportunity for renewable resources to make a significant contribution to total energy needs,” said OPIC president Elisabeth L. Littlefiel.

“Energy is critical to the African continent and its continued growth. Lekela is uniquely positioned as a long term investor to provide clean, secure, reliable and competitive renewable energy in Senegal and across Africa,” said Lekela CEO Chris Antonopoulos

With this project, Senegal’s power capacity will increase by 24%. It will also help boost renewable’s share in the national energy mix in which 90% of power comes from fossils.

Gwladys Johnson