The Workshop on the Study on Financing Solar Solutions for Households, which took place in July 2024, marked a significant milestone in promoting renewable energy in Senegal. Organised by COPERES, with the support of the African Climate Foundation (ACF), saw Senegal country manager, Lamine Cisse deliver the opening remarks for Senegal’s Minister of Petroleum, Energy, and Mines, Birame Souleye Diop.
“We firmly believe in the potential of solar to transform our economy. In the agricultural sector, for example, solar energy can play a crucial role in increasing productivity by powering efficient irrigation systems and reducing reliance on expensive fossil fuels,” said Cisse during his address.
The Workshop on the Study on Financing Solar Solutions for Households underscored the collaborative efforts needed to drive the country’s energy transition.
Universal access to electricity
In his opening address, Minister Diop reiterated the government’s commitment to developing renewable energy to complement the country’s new oil and gas resources. The Minister emphasised the importance of fostering the national private sector, which is vital for job creation and revenue growth.
A key highlight of the Minister’s address was the government’s commitment to ensuring universal access to electricity for all Senegalese citizens. This ambitious goal reflects the government’s dedication to improving the quality of life and economic opportunities for its people.
Ambitious targets
The conference set forth ambitious targets, with COPERES aiming to mobilise 700 million FCFA from financial institutions. This funding is intended to enhance electricity access for 285 000 households and contribute to a production capacity of 500 MW.
The post event report will be shared with the Ministry, and the various actors will continue working on the implementation of the roadmap discussed. These efforts will ensure that the targets set during the conference are met, benefiting numerous households across the country.
The COPERES conference was a pivotal moment in Senegal’s renewable energy journey, showcasing the nation’s commitment to a sustainable and inclusive energy future. With robust support from the government and the collaborative efforts of diverse stakeholders, Senegal is well on its way to a sustainable energy future.
“Our vision is that the Just Energy Transition Partnership (JETP) in which Senegal is engaged with its partners in the international community will only make sense if it opens new opportunities for strong and sustainable growth for the local private sector. It must enable small and medium-sized businesses in the local private sector to integrate into strong value chains, creating jobs and income, and to contribute to industrialisation through the local production of solar and wind equipment. The Foundation believes that the local private sector can contribute to financing the JETP within the framework of strong partnerships with the national banking system,” said Cisse.
