The Walo Storage project in Senegal, brought to life by our partner Africa REN, has reached financial close!
Supported by SCAF, Africa REN develops, finances and operates sustainable infrastructure in sub-Saharan Africa in order to increase energy access.
As the first battery storage project in West Africa dedicated to frequency regulation, Walo Storage is designed to stabilize the local grid and reduce blackouts. In addition, 16 MW of clean electricity will be generated through the adjacent PV plant.
Funding of up to € 32 million in syndicated debt will be provided by FMO and Emerging Africa Infrastructure Fund, acting through Ninety One.
Congratulations Africa REN on this huge success!