A new clean energy investment platform company set up by Metier, FMO, and Africa REN, an IPP with operations in West Africa, has made its first deal. Africa REN Energy, as the platform is named, has backed the Kodeni Solar Power Plant, which has now entered its construction phase near Bobo-Dioulasso, in Burkina Faso. Once operational starting in August next year, the plant will be the largest in the country, generating 73,000Mwh annually and supplying energy to 115,000 households.
In total, the Kodeni Solar Power plant raised €42.5 million to reach financial close, €34 million of which was provided as debt. Africa REN Energy owns 100% of the equity. Between them, Metier, FMO, and Africa REN have allocated €30 million to Africa REN Energy’s future projects, an amount that can be increased.
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