The West Africa Economic and Monetary Union (WAEMU) launched a tender for bids to develop, build and operate on-grid solar PV projects. The projects under tender would range from 5 MW to 25 MW in UEMOA member states.
The tender is part of the WAEMU’s wider push to deliver sustainable energy production at affordable prices and to increase the use of renewable energy sources in its member states.
The WAEMU has set itself a target to achieve an energy mix of 82% from renewable energy sources, and toward that end have launched a new fund, known as Facilité Régionale d’Accès à l’Energie Durable (FRAED). The fund is comprised of contributions from member states and WAEMU of over $100 million.
The fund will be used to support member states in delivering the required regulation and infrastructure, ensure that successful developers receive a fair return on their investment (by way of the payment of subsidies if required) and that payments under Power Purchase Agreements can be guaranteed.