to-the-point: EIB mulls loan for Gambia PV & storage project

Solar panels. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

July 10 (Renewables Now) - Gambia’s National Water and Electricity Company Ltd may get a loan of EUR 35 million (USD 40m) from the European Investment Bank (EIB) for a solar power-plus-storage and grid upgrade project in Gambia.

The loan was under appraisal as of July 7.

The EUR-85-million project envisages the installation and connection to the grid of a 10-MW solar photovoltaic (PV) power plant with some battery energy storage capacity. In addition, the plan includes the installation of a number of off-grid solar-plus-storage units for rural health clinics, secondary schools and food manufacturing and storage facilities, and grid reinforcement investments.

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Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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