- CleanPower Generation has secured funding for its 82 MW solar PV portfolio in Guinea
- It signed a financing agreement with Frontier Energy to bring the projects online that it has been developing in the West African nation since 2017
- The projects will be set up in the cities of Kamsar and Boke and also support the mining industry in the country
The West African nation of Guinea will be hosting 3 solar PV projects with a combined capacity of 82 MW after CleanPower Generation GmbH, aGerman renewable energy developer operating in Sub-Saharan Africa, secured a financing agreement with Frontier Energy, a fund of the Danish fund manager Frontier Investment Management Company.
The agreement was signed at the German-African Business Association last month.
It will be among the 1st large-scale solar PV projects in Guinea to be set up as 3 linked solar projects in the port city of Kamsar and the city of Boke, reported GET.invest, a EU program that supports investments in decentralized renewable energy projects. It was involved in the negotiation process for the concession agreement signed by the Guinean Minister of Energy during G20 Compact with Africa (CwA) Summit.
CleanPower Generation has been developing these on-grid solar projects since 2017 that it says will contribute significantly to the country’s aim to produce 30% of its energy from renewable sources by 2030. Power generated will also be supplied to the mining industry in Guinea along with to the cities of Kamsar and Boke, according to another report.
“We are now looking forward to finalising all outstanding legal documents and permits with the Guinean government to allow us to implement the project with our international and local partners,” said Marcus Miller, CEO of CleanPower Generation.
Back in January 2018, InfraCo Africa committed funding worth $3.1 million to develop a 40 MW grid connected solar power plant in Guinea (see Guinea’s First On Grid PV Plant Secures $3.1m).