https://sputnikglobe.com/20230309/opec-fund-lends-25-million-to-support-nigers-energy-project-1108205294.html
OPEC Fund Lends $25 Million to Support Niger's Energy Project
OPEC Fund Lends $25 Million to Support Niger's Energy Project
Sputnik International
The OPEC Fund for International Development (OFID) is providing a $25 million loan to support Niger Solar Plant Development and Electricity Access Improvement Project (RANAA).
2023-03-09T10:19+0000
2023-03-09T10:19+0000
2023-03-09T10:19+0000
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The OPEC Fund for International Development is providing a $25 million loan to support Niger Solar Plant Development and Electricity Access Improvement Project (RANAA), which is expected to boost electrification and access to renewables in the country, reports say.In general, total investment in Niger's RANAA amounts to $167 million, with the OFID joining forces with the African Development Bank, Power Africa, the Green Climate Fund and the Government of Niger.On March 8, Director-General of the OPEC Fund, Dr. Abdulhamid Alkhalifa, signed the loan agreement with Niger's Finance Minister Ahmat Jidoud, according to reports. The project is aimed at supporting the energy sector's development through the construction of three solar plants in the Maradi, Dosso and Diffa Regions. The facilities are projected to benefit 750,000 people living in the project area with a total generation capacity of 40 MW.The project also involves the expansion of 2,600 km of new transmission lines connecting cities in southern Niger and the capital city, Niamey. The OFID funds are aimed at assisting the construction and integration of the Dosso solar power plant with a capacity of 10 MW into the network.OFID was established in 1976 by 13 OPEC member countries. The fund is a financial development institution created as a conduit of assistance to developing countries.Since its inception 47 years ago, the OPEC fund has provided Niger with 30 loans for the public sector to the tune of $246 million, supporting agriculture, transportation, education, water and health and a number of other initiatives via 33 different grants.
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opec fund for international development, opec countries, renewable energy, electricity access, access to electricity
opec fund for international development, opec countries, renewable energy, electricity access, access to electricity
OPEC Fund Lends $25 Million to Support Niger's Energy Project
In 2017, the OPEC Fund for International Development (OFID) inked a deal with the Africa Finance Corporation (AFC), a pan-African infrastructure solutions provider with 39 member states including Niger, aimed at supporting projects to develop infrastructure in key economic sectors among countries on the continent.
The OPEC Fund for International Development
is providing a $25 million loan to support Niger Solar Plant Development and Electricity Access Improvement Project (RANAA), which is expected to boost electrification and access to renewables in the country, reports say.
In general, total investment in Niger's RANAA
amounts to $167 million, with the OFID joining forces with the African Development Bank, Power Africa, the Green Climate Fund and the Government of Niger.
On March 8, Director-General of the OPEC Fund, Dr. Abdulhamid Alkhalifa, signed the loan agreement with Niger's Finance Minister Ahmat Jidoud, according to reports.
"Our support will help Niger increase access to affordable and clean energy and improve the overall capacity of the electricity network, making a real difference in people's lives," Dr. Alkhalifa said. "The OPEC Fund is committed to addressing the twin challenges of energy access and climate action and helping ensure that no one is left behind," he stressed.
20 February 2023, 12:15 GMT
The project is aimed at supporting the energy sector's development through the construction of three solar plants in the Maradi, Dosso and Diffa Regions. The facilities are projected to benefit 750,000 people living in the project area with a total generation capacity of 40 MW.
The project also involves the expansion of 2,600 km of new transmission lines connecting cities in southern Niger and the capital city, Niamey. The OFID funds are aimed at assisting the construction and integration of the Dosso solar power plant with a capacity of 10 MW into the network.
OFID was established in 1976 by 13 OPEC member countries. The fund is a financial development institution created as
a conduit of assistance to developing countries.
Since its inception 47 years ago, the OPEC fund has provided Niger with 30 loans for the public sector to the tune of $246 million, supporting agriculture, transportation, education, water and health and a number of other initiatives via 33 different grants.
