The Mauritius Commercial Bank Ltd, MCB, is facilitating Senegal’s endeavour to improve its national electrification rate through its $60 million participation in the syndicated project finance facility of $140 million to Karpowership.
MCB was not only a co-mandated lead arranger but provided the highest loan commitment. The project finance facility is enabling Karpowership to operate its 235 MW Powership alongside the shores of Dakar since August 2019.
The Powership is contributing to around 15% of Senegal’s electricity supply. According to Africa Energy Outlook 2019, Senegal’s electrification rate was 69% in 2018, with a 92% rate in urban areas and only 42% in rural areas.
As per the Government’s Plan Sénégal Emergent, a national roadmap adopted back in 2014, the state ambitions to increase its electrification rate to 100% by 2025, whilst focusing on lowering electricity generation costs by reducing its dependence on imported liquid fuels and increasing electricity acce
MCB (www.MCB.mu) is facilitating Senegal’s endeavour to improve its national electrification rate through its USD 60 million participation in the syndicated project finance facility of USD 140 million to Karpowership. MCB was not only a co-mandated lead arranger but provided the highest loan commitment. The project finance facility is enabling Karpowership to operate its 235 MW Powership alongside the shores of Dakar since August 2019.
The Powership is contributing to around 15% of Senegal’s electricity supply. According to Africa Energy Outlook 2019, Senegal’s electrification rate was 69% in 2018, with a 92% rate in urban areas and only 42% in rural areas. As per the Government’s
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DJ The Mauritius Commercial Bank Ltd (MCB) provides USD 60m funding to fuel Senegal s national electrification and LNG-use ambitions
The Mauritius Commercial Bank Ltd (MCB)
The Mauritius Commercial Bank Ltd (MCB) provides USD 60m funding to fuel Senegal s national electrification and LNG-use
ambitions
23-Apr-2021 / 11:40 CET/CEST
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The Mauritius Commercial Bank Ltd (MCB) provides USD 60m funding to fuel Senegal s national electrification and LNG-use
ambitions
Port-Louis, 23 April 2021: MCB (www.MCB.mu) is facilitating Senegal s endeavour to improve its national electrification
rate through its USD 60 million participation in the syndicated project finance facility of USD 140 million to
Karpowership. MCB was not only a co-mandated lead arranger but provided the highest loan commitment. The project
MCB (www.MCB.mu) is facilitating Senegal’s endeavour to improve its national electrification rate through its USD 60 million participation in the syndicated project finance facility of USD 140 million to Karpowership. MCB was not only a co-mandated lead arranger but provided the highest loan commitment. The project finance facility is enabling Karpowership to operate its 235 MW Powership alongside the shores of Dakar since August 2019.
The Powership is contributing to around 15% of Senegal’s electricity supply. According to Africa Energy Outlook 2019, Senegal’s electrification rate was 69% in 2018, with a 92% rate in urban areas and only 42% in rural areas. As per the Government’s