(Ecofin Agency) - The program is part of developed countries' commitment—those that produce the majority of carbon emissions—to provide funding to emerging or developing countries in exchange for commitments to reduce the share of fossil fuels in their energy mix.

Senegal is set to reengage in a $2.7 billion energy transition plan, financed by developed countries, at the 29th United Nations Climate Change Conference (COP29) taking place from November 11 to 22 in Azerbaijan.

The plan, known as the Just Energy Transition Partnership (JETP), is being negotiated with some of the world’s wealthiest nations. However, the process has been slowed down this year due to a change in government in Senegal. Rémy Rioux, the director-general of the French Development Agency (AFD), told Bloomberg that an official commitment to the agreement is now expected.

The energy transition agreement was initially reached in June 2023 under former President Macky Sall’s administration. However, with Bassirou Diomaye Faye taking office, there have been concerns and uncertainties about the future of the program.

Rioux noted that Faye is expected to announce his support for the plan, especially if his political party, the Patriotes africains du Sénégal pour le travail, l'éthique et la fraternité (Pastef), wins the upcoming legislative elections on November 17.

The Senegalese Just Energy Transition Partnership, similar to the one South Africa is part of, is backed by France, Germany, the European Union, the United Kingdom, and Canada. The funding will help Senegal reach its goal of having 40% of its installed electrical capacity come from renewable energy sources by 2030.