News Column

South Africa : EDF inks cooperation deal with IFC for off-grid electrification solutions in Africa

July 10, 2014

EDF declared that it has inked a cooperation deal with IFC, a member of the World Bank Group, to develop off-grid electrification solutions in sub-Saharan Africa.

Basically, the agreement is aimed on sub-Saharan Africa, with a pilot project under development in Benin.

It is expected that the initial phase of this pilot will supply electricity to 25 000 people, using hybrid solar-diesel networks and two biomassfired power plants.

The cooperation deal covers seeking sources of financing to support potential projects, sharing sector expertise between the two institutions, and where necessary, exploring sustainable co-investment opportunities.

Almost 1.3 billion people live without access to electricity in the world. Bringing power to these people is a major challenge that we must address, said Bertrand Heysch de la Borde, Senior Manager for Infrastructure in Africa at IFC, IFC is proud to partner with EDF Group, a global leader in energy and a valued partner for IFC in achieving this goal.

Electricity is a vital product without which no real development is possible. Access to energy for rural populations, who are more often the most disadvantaged ones, allows poverty reduction by developing income-generating activities, while also promoting education, health, access to water, etc, said Edouard Dahome, EDF Director for Africa and access to energy, The partnership between EDF and the IFC will reinforce and further develop EDF's engagement in this area which has been underway for more than 20 years.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters