Lekela closes on EC/DFI-backed deal for Taiba N'Diaye wind

African renewables developer Lekela – a 60/40 joint venture between Actis and a Mainstream Renewable Power-led consortium – has reached financial close on the 158.7MW Taiba N'Diaye wind project in Senegal. Senegal's first utility-scale wind project, the scheme is being financed by a €140 million ($161 million) 17-year export loan from EKF, and funding from OPIC ($250 million in financing and $70 million in reinsurance agreed in 2016), with $105.4 million of 20-year political risk insurance from MIGA for the equity.

Taiba N'Diaye, which is located 70km north of Dakar, will consist of 46 Vestas 3.45MW turbines (Vestas is also under contract for 20 years of maintenance). The project is expected to be operational by 2020.