The US government has agreed to stump up $250m to finance Mainstream Renewable Power’s African joint venture Lekela Power.
The Irish developer said the US’s international development finance outfit Overseas Private Investment Corporation (OPIC) will fund the building of the 158MW Taiba Ndiaye wind farm in Senegal.
OPIC will also provide a further $70m in reinsurance for the wind farm, Mainstream said.
OPIC president and chief executive Elizabeth Littlefield said: “This is a transformative project for many reasons, principally for the new and clean energy it will supply to Senegal.”
The project is expected to increase Senegal’s available installed power capacity by 24%.
Image: Mainstream Renewable Energy
