Development Finance Institutions British International Investment, FMO, Proparco, and Frontier Energy invest $52M in Planet Solar, a 50 MW solar project in Sierra Leone. The initiative supports clean, affordable energy, aligning with UN Sustainable Development Goals. Planet Solar aims to be the first large-scale grid-connected solar IPP, mitigating 53,000 tonnes of CO2 annually. This investment contributes to SDGs 7, 8, and 13.
Planet Solar to be Sierra Leone’s first large-scale solar IPP
This project aims to boost Sierra Leone’s domestic electricity supply by around 30%, benefitting Freetown, the Western Area, and four other locations across the nation. Illustration from Proparco.
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)