AfDB approves $25 million to fund the 33 MW Segou solar PV plant

The African Development Bank (AfDB) has approved a senior concessional loan of $25 million to fund  the 33 MW Segou solar PV project, which is the first utility-scale solar PV plant in Mali. The project will be funded by the Climate Investment Funds, with co-financing from AfDB and the International Finance Corporation. The project will be implemented by a special purpose vehicle (SPV), which will be fully owned by the private sector under a 25-year build-own- operate-transfer concession agreement signed with the government. In addition, there will be a 25-year power purchase agreement (PPA) signed with Mali’s national utility, EInergie du Mali.