The West African Development Bank (BOAD) has agreed to provide a XOF 25 billion ($44.8 million) loan to cover part of the funding requirements of the project, which will be among the country's first first large-scale PV power installations.
“The implementation of this project,” the BOAD said, “will provide 500,000 people with access to energy, reduce greenhouse gas by 24,100 tons and alleviate housework through the installation of mills and multi-purpose platforms and better safe water supply.” The Togo-based financial institution did not reveal any additional details about the plan.
Although the West African country mostly relies on fossil fuels, solar has seen limited developed in Guinea Bissau, with the exception of a few rural electrification initiatives. According to REEEP, the country has one of the lowest electrification rates and highest electric service costs in Africa. Biomass currently covers around 95% of the total energy consumed by households in Guinea Bissau.
The country has an average solar radiation level of 4.5 to 5.5 kWh per square meter per day and 3,000 h of insolation per year. According to REEEP, the local government in 2013 said it aimed at significantly increasing the utilization of PV in order to cover up to 2 % of overall energy consumption by 2015.
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