IFC to develop solar power projects in West, Central Africa

The International Finance Corporation (IFC) and Scatec Solar, a Norwegian company specializing in photovoltaic solar systems, have signed an agreement to develop solar power projects that will supply renewable energy to address electricity needs in parts of West and Central Africa.

IFC InfraVentures, the Global Infrastructure Project Development Fund, and Scatec Solar will develop, design, finance, construct and operate solar photovoltaic plants generating at least 10 megawatts of power, the World Bank Group member said in a statement.

“They plan to build a portfolio of projects in Benin, Burkina Faso, Cameroon, Niger, and Togo,” the IFC said.

This is the first time a multilateral financial institution is partnering with a private company to develop solar power energy in sub-Saharan Africa.

By Ekow Quandzie