The commitments of the Desert to Power initiative reaffirmed by the AfDB and its partners
At a recent event, the African Development Bank (AfDB) and the Private Infrastructure Development Group (PIDG) deepened their cooperation on the Desert to Power initiative.
The event, dubbed Accelerate private sector investments in the G5 Sahel – leveraging the Desert to Power financing facility, took place on June 23, to engage the private sector on the financial resources needed for the innovative Desert to Power G5 Sahel financing mechanism, which is part of the broader energy initiative.
The facility aims to help G5 Sahel countries, including Burkina Faso, Chad, Mali, Mauritania and Niger, adopt a low-emission electricity generation pathway, harnessing the region’s abundant solar potential. region. It will focus on large-scale solar generation through independent power producers and energy storage solutions. These investments will be supported by a technical assistance component to build implementation capacity, strengthen the enabling environment for private sector investments, and ensure gender and climate mainstreaming.
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The event, moderated by the AfDB’s Director for Renewable Energy, Dr. Daniel Schroth, brought together high-level representatives from beneficiary countries in the Sahel, development partners and the private sector.
During the session, AfDB Vice President for Power, Energy, Climate and Green Growth, Dr. Kevin Kariuki and CEO of InfraCo Africa Gilles Vaes, representing PIDG, a developer and investor of infrastructure projects, signed a letter of intent in which both parties agreed to deepen their cooperation on Desert to Power. PIDG, on an indicative and non-binding basis, has committed to allocating a total of $300 million to the Desert to Power initiative.
Following the signing, Kariuki expressed hope that the partnership between PIDG and the Bank would bring increased funding and expertise to the realization of the Desert to Power project.
Philippe Valahu, CEO of PIDG, said he was delighted with this signature. “This will build on the existing partnership and further strengthen the collaboration between the bank and PIDG on co-financing solar projects in the Sahel region,” he noted.
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The signing ceremony was followed by a panel discussion on how to increase private sector investment in the solar sector. Panelists included Abdessalem Ould Mohamed Saleh, Minister of Petroleum, Mines and Energy of the Islamic Republic of Mauritania, who reiterated Mauritania’s strong commitment to the Desert to Power initiative and urged the private sector and partners to accelerate the implementation of the initiative.