ACEI to invest in West Africa’s largest wind farm

American Capital Energy & Infrastructure (ACEI; Annapolis, MD) announced that it will make an investment of €76 million (about $85 million U.S.) in equity in the development of a 151.8 MW wind farm in Senegal, a facility that ACEI says will be the largest wind farm in West Africa. ACEI said that it will be joined by senior and mezzanine lenders in supporting the €305 million project, which is under development by Sarreole S.a.r.l., a French renewable energy developer, about 75 kilometers northwest of Dakar. The output of the facility will be sold to Societe Nationale d’Electricite du Senegal, the national utility, under a 20-year power purchase agreement. “This project makes a lot of sense for Senegal, both from an economic as well as an environmental standpoint,” said Paul Hanrahan, ACEI’s CEO and co-founder. “Senegal’s impressive economic growth requires more electric generating capacity to be built as its electrification rate is well above average for the sub-Saharan region. In addition, the Senegalese government has stated that it is committed to shifting from diesel-based power generation to lower-cost energy sources, such as wind power, to lower the cost of electricity, and has taken steps to further reform its electricity sector in a way that makes it an attractive place to invest.”