Africa REN is delighted to announce the successful financing of its Walo Storage project, in Senegal. The Dutch development bank FMO and the Emerging Africa Infrastructure Fund (EAIF), acting through Ninety One, fund manager of EAIF will invest up to a total of €32 million in syndicated debt into Walo Storage, a project fully developed by Africa REN, with the support of the Seed Capital Assistance Facility and FMO.
Walo Storage represents a major breakthrough as the first battery storage project in West Africa dedicated to frequency regulation.