The African Development Bank (AfDB) board of directors announced the approval of a €26.5 million ($29.5 million) financing package to construct a 62 megawatt-peak (MWp) solar photovoltaic power plant in Sokodé, Togo.
The financing includes a loan from the AfDB of up to €18.5 million ($20.7 million) and a concessional loan of up to €8 million ($8.8 million) from the bank-managed Sustainable Energy Fund for Africa (SEFA), with PROPACO, a French development finance agency, providing additional co-financing.
The project’s investment totals €61 million ($67.7 million).
“The Sokodé solar project is a landmark achievement that highlights Togo’s strong commitment to the transition to renewable energy in line with the Togo M300 energy compact under preparation, and the bank’s long-standing commitment to supporting clean energy projects across the continent,” said Kevin Kariuki, vice president for power, energy, climate, and green growth at the AfDB.
“The project not only supports Togo’s efforts to access energy through renewables but also stimulates local economic growth and enhances the country’s energy security and reliability,” Kelvin noted.
SEFA’s support for the Sokode Solar PV Project shows the viability of renewable energy and catalyzes further clean energy investments in the region, as stated in the AfDB report.
What this project will mean for Togo’s renewable energy sector
The project, developed by French asset manager Meridiam and Électricité de France (EDF), and the Sokodé solar plant includes an 11-kilometer transmission line.
Once operational, the plant is expected to generate 87 gigawatt-hours of electricity annually, delivering clean, reliable, and affordable power to communities while addressing energy deficits.
It will also help reduce annual CO₂ emissions by approximately 13.6 thousand tons, contributing to Togo’s climate commitments under the Paris Agreement, according to the AfDB report.
The project aligns with Togo’s M300 energy compact, aiming for universal energy access by 2030, as per AfDB’s strategic framework.
It aligns with the African Development Bank Group’s “Light Up and Power Africa” goal to advance sustainable, inclusive energy solutions across the continent.
This financing demonstrates AfDB’s strong commitment to promoting sustainable energy across Africa.
One example is the $8.79 million Uganda Biogas and Electric Cooking Project (UBEP), which aims to expand access to clean cooking solutions throughout Uganda.
Another is the recently signed $1.5 million agreement with Congo to enhance electricity access in the country.
